AmFin Ch. 11 Halted By Noteholders

Law360, New York (June 10, 2011, 7:45 PM EDT) -- AmFin Financial Corp. on Thursday canceled a hearing in Ohio bankruptcy court for its disclosure statement after failing to reach an agreement with noteholders over the treatment of their $100 million claim.

AmFin, parent of defunct AmTrust Bank, scrapped the hearing, which had been scheduled for Friday, because noteholders continue to object to the company's reorganization plan that seeks to re-characterize the $100 million claim as unsecured, according to the motion.

“With the noteholders’ claim treatment in flux, it is impossible for the debtors to request...
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