Wachovia, Wells Fargo Object To Woodside Plan

Law360, New York (October 5, 2009, 6:11 PM EDT) -- Several Woodside Group LLC creditors, including Wachovia Bank NA, Wells Fargo NA and Zions First National Bank, have objected to the bankrupt real estate developer's latest reorganization plan, which they claim doesn't adequately protect their rights.

In an objection filed Friday in the U.S. Bankruptcy Court for the Central District of California, Wachovia and Wells Fargo said that although they have voted in favor of the plan, they reserves the right to object to it unless Woodside addresses six concerns they have.

The banks said they...
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