The saga continues for embattled independent auto lender Union Acceptance Corp. in its attempts to retain the servicing rights to its auto loan portfolio. The Indianapolis-based lender announced Dec. 17 that it had completed a planned portfolio sale, raising an estimated $11 million to $15 million in proceeds.

While ASR was on hiatus, the company announced that it had once again received an court-ordered extension on the deadline for bond insurer MBIA to seek a servicing transfer through Tuesday, Jan. 7. This week the U.S. Southern District Bankruptcy Court of Indiana is expected to decide whether or not to further extend this deadline through the end of March, according to a company spokesperson.

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