Wachovia Loses Bid To Nix 'Bad Faith' Bankruptcy

Law360, New York (September 8, 2008, 12:00 AM EDT) -- A bankruptcy court has rejected Wachovia Bank NA's attempt to get the Chapter 11 case of environmental remediator and real estate developer EnCap Golf Holdings LLC dismissed, despite Wachovia's assertion that EnCap sought bankruptcy protection in bad faith.

U.S. Bankruptcy Judge Novalyn L. Winfield signed off an order on Friday denying Wachovia's June 13 motion to have the Chapter 11 cases of EnCap and majority owner NJM Capital LLC dismissed for cause. Alternatively, Wachovia's motion sought relief from the automatic stay to pursue a pending foreclosure...
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