WCI Set To Emerge From Ch. 11 After Plan Approval

Law360, New York (August 27, 2009, 2:32 PM EDT) -- WCI Communities Inc. expects to emerge from bankruptcy protection by the end of August following a bankruptcy judge's approval of the homebuilder's Chapter 11 reorganization plan.

Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District of Delaware approved the plan Wednesday, noting that several of the 13 objections that had been filed had been settled, including those of several insurance companies.

WCI said it would exit bankruptcy protection on Aug. 31.

The U.S. Environmental Protection Agency and the Army Corps of Engineers will...
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