WCI Emerges From Ch. 11 With New Board

Law360, New York (September 3, 2009, 4:56 PM EDT) -- WCI Communities Inc. announced Thursday that it had emerged from Chapter 11 with $2 billion less debt and appointed five people from the financial and real estate industries to its new board of directors.

“This is a great accomplishment,” CEO David Fry said. “Now that we have successfully completed our financial restructuring, emerging from Chapter 11 with a rational capital structure and a strong core portfolio, we look forward to implementing our business plan, which has been designed to provide us a flexible foundation for operating...
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