Judge Denies Bank's Bid To Seize AHM Loans

Law360, New York (August 17, 2007, 12:00 AM EDT) -- A bankruptcy judge has refused a bid by Credit Suisse First Boston to immediately wrest control of more than $46 million in loans from American Home Mortgage Investment Corp, saying the bank would have to wait its turn.

Delaware judge Christopher Sontchi said CSFB had not established irreparable harm entitling them to expedited relief and must stand in line with other backers of the lender, which filed for Chapter 11 protection earlier this month.

The judge agreed the bank had a right to call in its...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.