Meruelo Plan Details $453M In Intercompany Claims

Law360, New York (December 1, 2009, 3:51 PM EST) -- Meruelo Maddux Properties Inc. has filed a Chapter 11 bankruptcy plan that details hundreds of millions of dollars in claims against the real estate company, including intercompany claims.

The company filed the plan Monday in the U.S. Bankruptcy Court for the Central District of California showing nearly $453 million in intercompany claims against Meruelo Maddux Properties LP.

Meruelo, which filed for Chapter 11 bankruptcy protection in March, also owes more than $203 million in Class 1 unsecured guaranty claims. Meruelo and its affiliates own rental and...
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