BridgeSpan Files for Reorganization Protection
FRISCO, TX -- (MARKET WIRE) -- 01/27/2004 -- BridgeSpan, Inc., a Delaware corporation, today filed a voluntary petition for reorganization under Chapter 11 of Title 11 of the U.S. Bankruptcy Code with the U.S. Bankruptcy court in the Northern District of California (San Jose) in order to facilitate a restructuring of its business.
BridgeSpan Title Company, a California corporation, today filed a voluntary petition for reorganization under Chapter 11 of Title 11 of the U.S. Bankruptcy code with the U.S. Bankruptcy Court in the Northern District of California (San Jose) in order to facilitate a restructuring of its business.
BridgeSpan Corp., a Texas corporation, today filed a voluntary petition for liquidation under Chapter 7 of Title 11 of the U.S. Bankruptcy code with the U.S. Bankruptcy Court in the Northern District of California (San Jose) in order to facilitate a previously announced orderly shut down of its business. It's parent, BridgeSpan, Inc., had initiated sales negotiations, but was unable to complete them due to adversary actions by one of its title insurance underwriters.
About BridgeSpan
BridgeSpan, Inc. is a leading provider of mortgage processing solutions for lenders and settlement services providers. The company introduced the industry's first electronic mortgage technology platform, and is believed to have processed more electronic mortgages than the rest of the industry combined.
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Contact:
Kelly McDermott
BridgeSpan Communications
(469) 633-7100
kmcdermott@bridgespan.com
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