Developer South Edge Gets Green Light For Ch. 11 Plan

Law360, New York (October 27, 2011, 10:37 PM EDT) -- A Nevada bankruptcy judge on Thursday put South Edge LLC one step closer to exiting Chapter 11 bankruptcy by signing off on the Las Vegas housing development project's reorganization plan.

U.S. Bankruptcy Judge Bruce A. Markell approved the plan, which is underpinned by settlements with a number of building companies and provides lenders with roughly $330 million in recoveries and offers unsecured creditors a share of a $1 million fund.

Judge Markell noted the plan was supported by the secured creditors holding 99 percent of the...
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