TransLand's hearing on dismissal of its Chapter 11 case to be continued on Oct. 19

By Reshmi Basu

New York, Oct. 3 - TransLand Financial Services, Inc.'s hearing on its request to dismiss its Chapter 11 case will continue on Oct. 19, according to a person familiar with the case.

Meanwhile, the company asked that the Oct. 19 evidentiary hearing, which includes both the dismissal motion as well as an emergency motion to appoint a Chapter 11 trustee, be split into two different hearings, according to a Wednesday filing with the U.S. Bankruptcy Court for the Middle District of Florida.

According to the motion, the court has only reserved one day for the motions. However, the company anticipates that both will require much more time, especially the trustee appointment because it is "contested and controversial."

On Oct. 9, there will be a hearing for appointment of an examiner and to split the case dismissal and trustee appointment motions.

TierOne Bank, Federal Trust Bank and MidCountry Bank filed an involuntary Chapter 11 bankruptcy case against TransLand on Aug. 23.

The company is a Maitland, Fla.-based mortgage brokerage firm. Its Chapter 11 case number is 07-03834.

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