AmFin Wins Confirmation Hearing For Ch. 11 Plan

Law360, New York (September 16, 2011, 7:41 PM EDT) -- An Ohio bankruptcy judge approved an amended disclosure statement from AmFin Financial Corp. on Friday, overruling objections from two junior creditors and setting a date for final confirmation of the battered bank holding company's liquidation plan.

U.S. Bankruptcy Judge Pat Morgenstern-Clarren dismissed arguments from HoldCo Advisors LP and The Bancorp Bank, which together hold about $7.3 million in AmFin securities. The companies had argued that the Chapter 11 plan would hamper potential litigation against former executives over the risky loans that drove AmTrust Bank into FDIC...
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