JPMorgan Aims To Liquidate Home Lender Accredited

Law360, New York (June 22, 2009, 12:00 AM EDT) -- Creditors led by a unit of JPMorgan Chase & Co. are pushing to liquidate bankrupt mortgage lender Accredited Home Lenders Holding Co., claiming that the company is burning off as much as $10,000 a day and has sold its one asset of any possible value to an insider without a proper auction.

In a motion filed in the U.S. Bankruptcy Court for the District of Delaware Friday, JPMorgan Chase Bank NA and two structured investment vehicles owned by Kodiak Funding LP argue that the sale of...
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