Tousa Asks For Approval Of Amended Ch. 11 Plan

Law360, Miami (July 31, 2013, 7:32 PM EDT) -- Bankrupt homebuilder Tousa Inc. on Tuesday filed an amended Chapter 11 liquidation plan and asked a Florida bankruptcy court to approve the plan over the U.S. Trustee's objections.

Tousa said the “carefully crafted and extremely fragile agreement” addresses several objections, including those from the U.S. trustee regarding vague language, and should be approved over the trustee's other objections because they comply with applicable law and are fair and appropriate.

“Imposing the U.S. Trustee's requirement would exact a substantial burden on the debtors' already limited financial resources,...
To view the full article, register now.