Homebuilder-Bankruptcy.com

Why should home buyers care about conflict between lenders and other institutional stakeholders in a home builder’s bankruptcy? Because it affects the issue of whether the builder would end up in liquidation and foreclosure or reorganize and fund the completion of unfinished homes.
Conflict in Foreclosure Sale

An interesting piece on conflict between institutional stakeholders appeared in [...]

Wachovia made an interesting point a couple of days ago, while objecting Heritage Highgate’s and Heritage Residential’s motions to permit use of cash collateral and to honor warranty claims.
The bank (which has since been taken over by Wells Fargo) stated that the Heritage Homes Group “has gone to great lengths to explain to its customers [...]

Whitney Lake (which filed for Chapter 11 in Sep’08) disclosed in its Schedules of Assets & Liabilities the possibility of a potential dispute with Frazier Real Properties LP (“Frazier”). The Schedule lists a potential cause of action against Frazier for breach of contract – “failure to disclose burial of unsuitable materials under proposed roadways”.
Any guesses [...]

Bernard Real Estate & Development, a developer which filed for Chapter 11 in Jan’08, had its case dismissed in July’08. The US Trustee first moved for conversion or dismissal some time in June.
One of the creditors, Malbur Investments applied for a Rule 2004 examination of Mr Stephen Bernard (the principal of the company). According to [...]