Judge Tosses AHM's Deferred Compensation Plan

Law360, New York (November 8, 2007, 12:00 AM EST) -- Bankrupt lender American Home Mortgage has won a bid to cancel its deferred compensation plans after a judge approved a motion calling for the plan's assets to be returned to the company.

Judge Christopher Sontchi of the U.S. Bankruptcy Court for the District of Delaware approved AHM's request on Nov. 7, issuing an order authorizing the cancellation of the deferred compensation trust and ordering trust administrator Merrill Lynch Trust Company to return the assets to the debtor.

The judge granted AHM's motion despite a handful of...
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