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AHM To Hand $519M In Loans To Morgan Stanley

Law360 (August 24, 2007, 12:00 AM EDT) -- Bankrupt mortgage lender American Home Mortgage Inc. reached a settlement on Friday with Morgan Stanley, agreeing to give the investment firm control over $519 million in loans.

A bankruptcy judge approved the agreement Friday afternoon.

Morgan Stanley could not immediately be reached, and a spokesperson for American Home declined to comment. No further details on the settlement were available.

Morgan Stanley had earlier brought an action in Delaware bankruptcy court asking American Home Mortgage to hand over control of the loans. Morgan Stanley claimed the bankrupt...
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