Crdit Agricole Corp. v American Home Mortg. Holdings Inc. (In re American Home Mortg. Holdings Inc.)

Ruling: 
Claims based on repurchase agreements disallowed where market value on acceleration date exceeded repurchase price.
Procedural posture: 
Pursuant to a repurchase contract, creditor, a purchaser, filed four identical proofs of claim against debtor for an amount that exceeded the total repurchase price. One year later, the chapter 11 debtor filed its objections to the claims, seeking either to disallow or reduce them pursuant to 11 U.S.C.S. § 562. The U. S. Bankruptcy Court for the District of Delaware sustained the objections and ordered the repurchase claims expunged.
Issue: 
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Commercial case opionion summary, case decided on February 16,2011, LexisNexis #0311-023