American Home Tries To Keep Sale On Track

Law360, New York (October 15, 2007, 12:00 AM EDT) -- Bankrupt mortgage lender American Home Mortgage Holdings Inc. and its creditors are trying to keep the sale of its servicing platform on schedule, despite moves by GMAC Mortgage LLC and Residential Funding Co. LLC to stall the sale hearing until a later date.

In an objection filed Friday in the U.S. Bankruptcy Court for the District of Delaware, American Home claimed GMAC and RFC’s attempt to delay the Oct. 15 hearing “is nothing more than an attempt to gain leverage” in negotiations with the company. American...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.