Cash-Strapped Builder Warns Of Possible Ch. 11 Filing
In a statement announcing its 2008 fourth-quarter and calendar-year results, Meruelo Maddux said it was experiencing significant cash shortfalls resulting from operating activities, recurring investment activities such as interest payments and real estate taxes, and capital expenditures on existing rental properties.
“One way to generate liquidity in this challenging credit climate and real estate market is...
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