Law360, New York (August 18, 2009) -- Accredited Home Lenders Holding Co.’s $22 million settlement in a long-running securities class action should not get approved until after the company files its liquidation plan — or should be rejected altogether — because the deal would exhaust AHL's insurance coverage, the committee of unsecured creditors has said.
In a motion filed Monday in the U.S. Bankruptcy Court for the District of Delaware, the unsecured creditors said approval of the settlement would be “premature and risky.” Because the...
