Court Vacates Order For AmFin Examination

Law360, New York (August 6, 2010, 5:27 PM EDT) -- A bankruptcy judge has reconsidered an order calling for an examination into whether AmFin Financial Corp.’s former chief financial officer failed to disclose information to investors about a subsidiary’s financial troubles, saying estate assets needed to be conserved pending the outcome of a multibillion-dollar claim by the Federal Deposit Insurance Corp.

Judge Pat E. Morgenstern-Clarren of the U.S. Bankruptcy Court for the Northern District of Ohio on Thursday granted bids by AmFin and former CFO Alan Presby to vacate a June order granting the motion by...
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