Bankrupt Levitt, BofA Reach Deal On $102M Claim

Law360, New York (February 13, 2009, 12:00 AM EST) -- With defunct real estate developer Levitt and Sons LLC only a week away from a hearing on its reorganization plan, the debtors and unsecured creditors have reached an agreement with Bank of America NA over its $102 million claim against the estate.

The parties asked the U.S. Bankruptcy Court for the Southern District of Florida on Thursday to approve a compromise and settlement between the debtors and creditors and the bank.

Under the terms of the deal, the bank has agreed to waive its deficiency claim...
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