NJ Developer Objects to Lennar's 'Bad Faith' Ch. 11 Claims

Law360, New York (September 18, 2012, 8:17 PM EDT) -- The owners of Medford Village, a stalled 280-acre residential and commercial development valued at more than $100 million before the recession, objected Monday in New Jersey bankruptcy court to homebuilder Lennar Corp.'s claim that it had entered Chapter 11 in bad faith.

Lennar had asked the court in August to dismiss the bankruptcy case, claiming that Medford was using it as a litigation tactic to circumvent foreclosure orders issued by New Jersey courts and avoid returning a $6 million deposit secured by a mortgage on a...
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