Judge OKs $160M Settlement In Liquidation Of Fla. Builder

Law360, Miami (January 11, 2018, 10:13 PM EST) -- An agreement by several lenders to pay $160 million to the trust for bankrupt builder Tousa Inc. to settle claims they owed $270 million was approved by a Florida bankruptcy judge Thursday.

The go-ahead for the settlement resolves 95 percent of the remaining liability in the underlying litigation, according to the liquidation trust. Only three defendants remain active, and they will not continue their appeals of the disputed disgorgement order from the bankruptcy court, which found that earlier settlement payments from Tousa to the lenders were...
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