Noteholders Object To AmTrust Sale To Novak

Law360, New York (February 10, 2010, 12:20 PM EST) -- A proposed move by bankrupt financial holding company AmTrust Financial Corp. to sell its property and casualty business to Novak Insurance Agency Inc. has drawn opposition from a group of noteholders.

The ad hoc committee of noteholders, which includes Allstate Life Insurance Co. and the Travelers Indemnity Co., filed a limited objection with the U.S. Bankruptcy Court for the Northern District of Ohio on Tuesday, seeking that any order approving the sale provide that the noteholders’ lien, which is subject to a challenge, attaches to the...
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