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Expert Analysis

American Home Mortgage's Effect On Repo Buyers

Law360 ( June 26, 2008, 12:00 AM EDT) -- On May 23, 2008, in American Home Mortgage Investment Corp. v. Lehman Brothers Inc., the United States Bankruptcy Court for the District of Delaware held that a transaction involving the purchase and sale of subordinated notes secured by mortgage loans was a "repurchase agreement" and a "securities contract" entitled to the financial contract safe harbor protections of sections 559 and 555 under the Bankruptcy Code....

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