American Home Asks To Settle $17M In Sale Claims

Law360, New York (March 17, 2010, 6:48 PM EDT) -- Bankrupt lender American Home Mortgage Holdings Inc. has asked a judge to approve a settlement with the buyer of its mortgage servicing unit, seeking to put to rest about $17 million in claims over unauthorized payments to investors and other alleged breaches of the sale agreement.

American Home filed a motion concerning the settlement Tuesday in the U.S. Bankruptcy Court for the District of Delaware, asking to satisfy the claims largely by giving the buyer, American Home Mortgage Servicing Inc., a $6 million administrative claim....
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