California Coastal Wins Extended Exclusivity Period

Law360, New York (July 28, 2010, 5:03 PM EDT) -- Bankrupt California Coastal Communities Inc. has won a third extension of its exclusivity period and approval of the information in its disclosure statement, moving the real estate developer closer to confirmation of its bankruptcy plan.

The U.S. Bankruptcy Court for the Central District of California on Tuesday gave California Coastal the exclusive right to solicit acceptances of its reorganization plan and approved the adequacy of its disclosure statement, the form of its proposed balloting and other related confirmation procedures.

Wilmington Trust FSB, the successor agent for...
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