Judge Approves Fairfield Residential's Ch. 11 Plan

Law360, New York (July 6, 2010, 5:53 PM EDT) -- A bankruptcy judge has approved Fairfield Residential LLC's reorganization plan, putting the real estate developer on the path to emerging from Chapter 11 protection by August.

Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the District of Delaware signed off on the plan at a hearing Tuesday morning, the company said.

The plan is supported by new equity from Brookfield Asset Management and the California State Teachers Retirement System, the company noted.

“The court’s confirmation of our plan of reorganization, which follows virtually unanimous...
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