Tousa Creditors Take Aim At Tousa Lenders

Law360, New York (July 16, 2008, 12:00 AM EDT) -- Tousa Inc.'s unsecured creditors committee has claimed in a new suit in the builder's Chapter 11 case that Tousa guaranteed lenders including Wells Fargo Bank NA and Citicorp North America Inc. over $800 million that the committee hopes to put back in play.

Tousa's official committee of unsecured creditors filed an adversary proceeding Monday in the U.S. Bankruptcy Court for the Southern District of Florida against the lenders, including Citicorp, Wells Fargo, The CIT Group/Business Credit Inc. and senior noteholders.

An attorney at Chadbourne & Parke...
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