We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Wells Fargo Sues AHM, Bear To Fend Off Threats

Law360 (October 26, 2007, 12:00 AM EDT) -- American Home Mortgage Holdings Inc., joined by Bear Stearns Cos., has been sued in the nature of interpleader by its securities administrator Wells Fargo & Co., which wants the bankruptcy court to weigh in on which party it owes $1.8 million in mortgage-backed notes.

Wells Fargo's adversary complaint, filed in the Delaware district court where American Home's Chapter 11 case is playing out, involves mortgage-backed notes that American Home's securities arm allegedly sold Bear Stearns under a repurchase deal that met Bankruptcy Code safe harbor provisions,...
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.