AmTrust Sale OK'd Despite Noteholders' Objection

Law360, New York (February 16, 2010, 12:59 PM EST) -- A bankruptcy judge has signed off on procedures that bankrupt financial holding company AmTrust Financial Corp. hopes will land its property and casualty business with Novak Insurance Agency Inc. and put off the issue of a noteholders' objection until after the sale is complete.

In an order signed Friday, Judge Pat E. Morgenstern-Clarren of the U.S. Bankruptcy Court for the Northern District of Ohio decided that she would wait until after the sale is complete to delve into the ad hoc committee of noteholders' contention that...
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