Walter Investment’s emergence from bankruptcy is delayed

2 409158.1 WALTER WHEREAS: A. The Action was filed on March 16, 2017, in the United States District Court for the Southern District of Florida, styled Elkin v.Walter Investment Management Corp. et al, Case No. 1:17-cv-20997-UU.

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Caesars Hauls Itself Out of Bankruptcy. Its bankruptcy reorganization plan was approved Tuesday by Judge Benjamin Goldgar in a Chicago court, putting to bed (we hope) a two-year saga that one of Caesars own lawyers described as “the largest and most complex bankruptcy in a generation.” It involved a company debt so astronomically high it required.

Walter Investment Management Corp., et al., No. 2:17-cv-02025-JCJ, pending in the United States District Court for the Eastern District of Pennsylvania. (b) “Attorneys’ Fees and Litigation Expenses” means the attorneys’ fees, costs and expenses incurred in connection with commencing, prosecuting and settling the Action

Walter Investment Management Corp. has successfully emerged from bankruptcy. The surviving organization is a restructured entity with a new name for the parent. Late last year, the Fort Washington, Pennsylvania-based company filed a voluntary chapter 11 petition in a Manhattan bankruptcy court. A.

Walter Investment Management Corp. Announces Anticipated Date of Emergence From Chapter 11 Proceedings and Start of Trading in New Common Stock. Assuming the Company emerges on February 9, 2018, trading in the Company’s new common stock will commence on February 12, 2018. The Company intends to change its name to Ditech Holding Corporation on the Effective Date and will trade under the symbol "DHCP" thereafter.

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Consistent with our underwriting expectations, our Payless DIP loan was fully repaid during Q3 in connection with the company’s emergence from bankruptcy, resulting in gross unlevered IRR of 24% on.

Earlier that year, Ditech emerged from bankruptcy after having previously done business under the name Walter Investment Management Corporation. In connection with the court-supervised bankruptcy process, Ditech has received commitments for up to $1.9 billion in debtor-in-possession financing to support its operations during the Chapter 11 process.

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