Homebuilder-Bankruptcy.com

Lincoln Logs, a manufacturer of log homes building packages, has given up on reorganization under Chapter 11. It obtained authorization from the bankruptcy court to accept offers for substantially all its assets totaling $2.6 million (the amount owed to the secured creditor). Looks like a fire sale might be on the way…

A number of entities in the Ginn corporate group filed for Chapter 7 in Dec’08. These are companies involved in 2 upscale residential and resort community projects – Tesoro in Port St Lucie, Florida, and Quail West in Naples, Florida, where they sell single-family units and condominium units.
Even though Chapter 7 proceedings generally involve fire-sale [...]

There has been escalating conflict between Village Homes of Colorado (which filed for Chapter 11 in Nov’08) and its lenders. See our earlier post – Fight between Lenders and Home Builder Over Short Sales.
The builder has been in a precarious position, given that it is unable to reach an agreement on post-petition financing from existing [...]