Countrywide Seeks Stay Lift To Recover Payments

Law360, New York (August 22, 2007, 12:00 AM EDT) -- Countrywide Home Loans Inc., America's largest mortgage lender and a secured creditor of bankrupt SouthStar Funding LLC, has asked a federal bankruptcy judge to lift an automatic stay in order to allow it to recover monthly mortgage payments it claims it is owed.

Countrywide said in court documents filed Tuesday in the U.S. Bankruptcy Court for the Northern District of Georgia that an automatic stay in SouthStar's bankruptcy case should be lifted so as to permit the company to exercise its right to foreclose a secured...
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