AHM Wins Approval Of $5.6M Deal With Execs

Law360, New York (September 8, 2009, 2:14 PM EDT) -- Ten former executives of American Home Mortgage Holdings Inc.'s investment unit have won court approval for a $5.6 million settlement to resolve claims the estate could have against them and can use a directors and officers liability insurance policy to cover the payment, a bankruptcy judge has ruled.

Judge Christopher S. Sontchi on Friday approved a settlement between AHM Investment, the official committee of unsecured creditors and the former executives in the U.S. Bankruptcy Court for the District of Delaware, finding it would be in the...
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