WCI Settles Dispute Over $3.9M Real Estate Contract

Law360, New York (September 3, 2009, 12:28 PM EDT) -- Several Florida real estate companies have agreed to pay WCI Communities Inc. $200,000 as part of a settlement of the companies' $3.85 million claim against the homebuilder's estate as the debtor ties up loose ends in its bankruptcy case.

WCI asked the U.S. Bankruptcy Court for the District of Delaware Sept. 2 to approve the deal with Golden Hills Golf LLC, Castro Realty Holding LLC, Austin International Realty LLC and Halcyon Hills LLC.

The dispute stems from a $100,000 option agreement WCI entered into with Castro...
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