Homebuilder Tousa Eyes Liquidation Amid Sluggish Market

Law360, New York (May 16, 2013, 9:08 PM EDT) -- Bankrupt Florida homebuilder Tousa Inc. on Thursday asked a Florida bankruptcy court to approve the disclosure statement for its liquidation plan, saying it has abandoned any hope of reorganization after enduring ongoing litigation and a difficult housing market.

The company filed a joint motion with the creditors committee in the case for the disclosure statement's approval, which would allow Tousa to start soliciting creditors' votes.

The homebuilder said that its Chapter 11 proceedings have been going forward as the housing industry, as well as the wider...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

TOUSA, Inc.


Case Number

0:08-bk-10928

Court

Florida Southern

Nature of Suit

Date Filed

January 29, 2008

Law Firms

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.