Aegis subsidiaries' Chapter 11 cases dismissed following asset sale

By Caroline Salls

Pittsburgh, Oct. 16 - Aegis Mortgage Corp. obtained court approval to dismiss the Chapter 11 cases of subsidiary debtors Aegis Loan Servicing, LP and AMC Insurance of Texas, Inc., according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

According to the motion, the subsidiary debtors' outstanding stock was sold to Ranieri & Co., Inc. in connection with the sale of Aegis' loan servicing assets.

As a condition to the sale closing, Aegis agreed to ask the court to dismiss the subsidiary debtors' Chapter 11 cases.

Aegis said the sale closed on Sept. 28.

Aegis Mortgage, a Houston-based mortgage production franchise, filed for bankruptcy on Aug. 13. Its Chapter 11 case number is 07-11119.

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