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

Mortgage Co. Holding Collateral Hostage: JPMorgan

Law360 (September 11, 2008, 12:00 AM EDT) -- JPMorgan Chase & Co. has asked a U.S. judge for permission to reclaim from bankrupt American Home Mortgage Inc. its JPMC warehouse loans, which the bank claims are being used as bargaining chips while their value plummets.

On Wednesday, JPMorgan submitted in the U.S. Bankruptcy Court for the District of Delaware a motion for relief from automatic stay, arguing that AHM has no equity in the loans, and that they aren't necessary for the bankrupt lender's Chapter 11 liquidation plan.

The bank is one of AHM's...
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.