Bear Stearns Settles $100M HomeBanc Adversary Suit For $3M

Law360, New York (April 30, 2013, 1:47 PM ET) -- The Chapter 7 trustee for HomeBanc Mortgage Corp. on Monday asked a Delaware bankruptcy judge to approve a $3.25 million settlement of a $100 million adversary proceeding it asserted against Bear Stearns & Co. Inc. over securities repurchase agreements between Bear Stearns and HomeBanc.

The trustee, George L. Miller, said following a split January ruling on cross-motions for summary judgment, the parties reached a settlement agreement on the HomeBanc’s remaining cross-claims, Bear Stearn’s cross claim and set-off claims, with Miller retaining his right to appeal the...
To view the full article, register now.