American Home Mortgage’s 40 biggest creditors include virtually all the major names of Wall Street. At the top of the list are Deutsche Bank and JPMorgan Chase. The two had no comment. American Home intends to take $50 million in financing from financier Wilbur Ross Jr’s company WL Ross & Co. Llc, which would place Ross in first position to collect whatever proceeds American Home manages to squeeze from its assets.
American Home said it has over 100,000 creditors, and Monday’s release said the company expects “there will be no shareholder equity remaining.