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AHM Reserves $1.7M For WARN Claims

Law360 (April 20, 2009, 12:00 AM EDT) -- Although it has not conceded the validity of their claims, bankrupt American Home Mortgage Holdings Inc. has set aside $1.7 million for possible distribution to employees who sued the company in 2007 for allegedly terminating them without fair warning.

In a stipulation filed Monday in the U.S. Bankruptcy Court for the District of Delaware, attorneys for AHM and the employees agreed that AHM would set aside $1.7 million when its liquidation plan, which was approved in February, becomes effective.

The money will be reserved to pay...
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