BrokerageIndustry News

Court ruling snubs Realogy plan

Company had sought debt exchange
Published on Dec 19, 2008

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by CareyBot

Real estate brokerage giant Realogy Corp. today announced that it has has been forced to abandon its plan, announced in November, for a debt-exchange program that was intended to lessen the company's risk of default on bank loans (see Inman News).

A Delaware Chancery Court Judge ruled that the plan constituted a breach of earlier contracts, according to reports.

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