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Credit Plan For Bankrupt Builder Gets Tentative Nod

Law360 (January 15, 2008, 12:00 AM EST) -- Levitt & Sons LLC, the storied homebuilder that developed the first planned suburban community, received tentative permission from a bankruptcy judge to establish a $3.5 million revolving credit facility with Wachovia Bank NA, its lender and largest creditor.

Judge Raymond B. Ray of the U.S. Bankruptcy Court for the Southern District of Florida signed an interim order granting the facility on Monday, several days after a preliminary hearing on Jan. 9 and a week before the hearing for final approval, currently scheduled for Jan. 23....
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