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Fifth Third Objects To HomeBanc Ch. 7 Bid

Law360 (February 18, 2009, 12:00 AM EST) -- With the hearing for HomeBanc Mortgage Corp.’s Chapter 7 conversion slated for Friday, Fifth Third Bank has lodged an objection to safeguard collections from millions of dollars of construction loans the bank advanced.

The objection, filed Tuesday in the U.S. Bankruptcy Court for the District of Delaware, claims Fifth Third Bank, the successor of loans made by First Charter Bank, is entitled to the collection funds, which the debtor intends to use to pay other creditors.

Under an agreement penned in August 2007, Fifth Third retains...
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