Judge Grants American Home Use Of Loan Sale Cash

Law360, New York (August 19, 2008, 12:00 AM EDT) -- American Home Mortgage Inc. will be able to hold on to more than $10 million in proceeds from a sale of its assets to go along with an amended debtor-in-possession financing agreement, a federal bankruptcy judge ruled Monday.

Judge Christopher Sontchi of U.S. Bankruptcy Court for the District of Delaware ruled that American Home Mortgage will be able to retain more than $10 million it earned in a sale of non-performing loans to private equity fund Beltway Capital LLC in July.

Of that money, American Home...
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