American home mortgage liquidating trust

Posted by / 08-Oct-2019 23:22

American home mortgage liquidating trust

On January 10, 2008, Calyon filed claims ("Claims") in the total amount of approximately

On January 10, 2008, Calyon filed claims ("Claims") in the total amount of approximately $1.155 billion.On January 9, 2009, American Home objected to the Claims, seeking either to disallow the Claims, or to reduce them to an amount determined by the court.

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On January 10, 2008, Calyon filed claims ("Claims") in the total amount of approximately $1.155 billion.

On January 9, 2009, American Home objected to the Claims, seeking either to disallow the Claims, or to reduce them to an amount determined by the court.

On November 21, 2006, certain American Home entities and Calyon New York Branch ("Calyon") entered into a repurchase agreement pursuant to which Calyon purchased certain mortgage loans from American Home.

At a minimum, a careful party could avoid some of the questions the decision presents.

.155 billion.

On January 9, 2009, American Home objected to the Claims, seeking either to disallow the Claims, or to reduce them to an amount determined by the court.

On November 21, 2006, certain American Home entities and Calyon New York Branch ("Calyon") entered into a repurchase agreement pursuant to which Calyon purchased certain mortgage loans from American Home.

At a minimum, a careful party could avoid some of the questions the decision presents.

In most cases, parties liquidating a repurchase agreement for mortgage loans would conduct a commercially reasonable auction of the assets.

At issue were the timing and method of valuation of the mortgage loan portfolio subject to Calyon's repurchase agreements.

Section 562 of the Bankruptcy Code governs these issues.

Certain unique aspects of the ruling may limit its applicability.

This position was accepted by the Court, resulting in a finding that the nondefaulting party suffered no damages from the termination.

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