DENVER — Presidential primary votes aren't the only ones beingregistered nowadays. Creditors of Centrix Financial LLC, thesubprime automobile lender have also been busy voting on its planto exit Chapter 11 bankruptcy.
In January, Judge Elizabeth E. Brown of the U.S. BankruptcyCourt here signed off on the Centrix plan, and voting by creditorswas slated to continue through March 4.
But the outcome of Centrix' failed Portfolio Management Program(PMP) for credit unions–integral to its bankruptcy filing–is farfrom final. While credit unions continue to make subprime andindirect auto loans, they don't do so through a third-partystructure like the Centrix PMP.
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