American Home Creditors Back Loan Sale

Law360 (March 18, 2008, 12:00 AM EDT) -- Unsecured creditors of bankrupt lender American Home Mortgage Holdings Inc. have agreed to back the company’s secured lenders as they seek to sell off 3,400 mortgage loans as soon as possible, even as AHM objects to the attempted fire sale.

In a motion filed Friday in the U.S. Bankruptcy Court for the District of Delaware, AHM’s official committee of unsecured creditors and Bank of America NA, administrative agent for AHM's pre-petition lenders, jointly asked the court to approve a settlement agreement putting to rest their remaining...
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