AHM Hits Lehman With $84M Adversary Suit

Law360, New York (October 25, 2007, 12:00 AM EDT) -- American Home Mortgage Holdings Inc. demanded Wednesday that Lehman Brothers Inc. return some $84 million in subordinated notes that the bankrupt lender claims rightfully belong to it.

American Home filed an adversary suit within its Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware, accusing the prominent investment bank of exploiting American Home's financial problems for its own gain.

Lehman allegedly violated its agreement with American Home in misrepresenting the market value of the notes and prematurely demanding compensation for the purported...
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