Competing Plans Lodged In Meruelo Ch. 11

Law360, New York (October 15, 2010, 3:34 PM EDT) -- Equity holders and secured investors of Meruelo Maddux Properties Inc. have proposed new competing reorganization plans in an ongoing fight over the bankrupt real estate company's future.

Equity holders Charlestown Capital Advisors LLC and Hartland Asset Management Corp., and secured creditors Legendary Investors Group No. 1 LLC and East West Bank lodged parallel disclosure statements Thursday in the U.S. Bankruptcy Court for the Central District of California, detailing revised plans to revive the ailing Meruelo.

In their fourth amended reorganization plan, Charlestown and Hartland call for...
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