REIT Files for Bankruptcy: Mortgage & Realty...
From Times Staff and Wire Service Reports
REIT Files for Bankruptcy: Mortgage & Realty Trust, a real estate investment trust that has invested in California properties, said it filed a petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The trust said there will be sufficient income and assets to properly satisfy all creditors and that reorganization under Chapter 11 will provide the best opportunity to preserve shareholder equity.
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