Tarragon's Reorganization Plan Wins Confirmation

Law360, New York (June 18, 2010, 3:16 PM EDT) -- Tarragon Corp. won approval Friday for its Chapter 11 plan, which calls for the real estate developer to shed some assets but preserves a group of investment properties that will remain a viable operating enterprise owned by creditors and Tarragon management.

Judge Donald Steckroth of the U.S. Bankruptcy Court for the District of New Jersey signed off on an order confirming Tarragon's second amended reorganization plan, which the debtors filed in May.

Judge Steckroth complimented the 25 Tarragon debtors on pulling off the restructuring, debtor counsel...
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