Ch. 11 Release Means Lennar Beats FCA Claims At 3rd Circ.
Law360 (December 4, 2020, 6:11 PM EST) -- A developer-backed organization is barred under a liability release in LandSource Communities Development LLC's Chapter 11 plan from going after Florida-based home builder Lennar Corp. over claims it swindled the California Public Employees' Retirement System out of nearly $1 billion, the Third Circuit ruled.
In a nonprecedential opinion, a panel on Thursday upheld a Delaware federal court ruling that affirmed a bankruptcy court decision prohibiting Citizens Against Corporate Crime LLC and its sole member, developer Nicholas Marsch III of Briarwood Capital LLC, from litigating a suit against Lennar in California federal court.
Marsch's California False Claims Act suit ran afoul of...
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