FORT WASHINGTON, Pa., Nov. 30, 2017 /PRNewswire/ — Walter Investment Management Corp. (“Walter” or the “Company”) (NYSE: WAC.BC) today announced that, as expected, the Company filed a voluntary chapter 11 petition in the United States Bankruptcy Court for the Southern District of New York (the “Court”) to execute a prepackaged financial restructuring plan (the “Prepackaged Plan”). At the conclusion of the financial restructuring process, which is expected to occur in the first quarter of 2018, the Company expects that it will have reduced its outstanding corporate debt by approximately $800 million1 and enhanced its financial flexibility.
The Prepackaged Plan incorporates the previously announced agreements (the “RSAs…
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