Creditors Come Out Against AHM Liquidation Plan

Law360, New York (January 15, 2009, 12:00 AM EST) -- American Home Mortgage’s amended plan of reorganization has met resistance as several creditors — including the Internal Revenue Service, Texas tax authorities and foreclosure attorneys working on the bankruptcy proceedings — have objected to the plan of liquidation.

On Wednesday a chorus of protests sounded as no less than four creditors filed objections in the U.S. Bankruptcy Court for the District of Delaware, claiming November’s amended plan of liquidation runs roughshod over the rights of the various creditors.

The hearing for the confirmation of the plan...
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