Judge To Approve Orleans Homebuilders' Ch. 11 Plan

Law360, New York (November 30, 2010, 8:02 PM EST) -- A bankruptcy judge will approve Orleans Homebuilders Inc.'s Chapter 11 reorganization plan, which is strongly supported by creditors and will trim the single-family homebuilder's debt by more than $200 million.

At a hearing in the U.S. Bankruptcy Court for the District of Delaware, Judge Peter J. Walsh said Tuesday that he would sign off on the plan after the debtors submitted a revised form of order.

Joel H. Levitin of Cahill Gordon & Reindel LLP, an attorney for the debtors, said at the hearing that creditors...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.