Wachovia Balks At Levitt's Proposed Voting Process

Law360, New York (December 9, 2008, 12:00 AM EST) -- A major lender to Levitt & Sons LLC has objected to the homebuilder's proposed solicitation and voting procedures for a recently revised Chapter 11 disclosure statement and liquidation plan, arguing that the procedures unfairly deprive creditors of certain rights.

In an objection filed Monday in the U.S. Bankruptcy Court for the Southern District of Florida, Wachovia Bank, a secured creditor and post-petition lender to Levitt, claims that the procedures proposed by the debtors and unsecured creditors do not provide adequate notice to creditors, place the burden...
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