Phoenix

ResMae Looks to Emerge from Chapter 11 

Like a Phoenix rising from the ashes, subprime wholesale lending giant ResMae is looking today as if it is close to emerging from Chapter 11 and into the waiting arms of private equity investors. The company issued a press release yesterday noting that the Court had approved its reorganization plan, which it said “clears the way” for it to become a subsidiary of Citadel Investment Group.