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Calif. Developer Empire Land Files For Ch. 11

Law360 (April 29, 2008, 12:00 AM EDT) -- The tanking real estate market claimed another victim Friday as Empire Land LLC, a major large-scale commercial and residential developer in California and Arizona, filed for Chapter 11 bankruptcy protection.

The Ontario, Calif.-based company filed a voluntary petition for relief in the U.S. Bankruptcy Court for the Central District of California, seeking protection for eight of Empire's subsidiaries and their homebuilding affiliates in California and Arizona.

Empire Land listed assets and liabilities in the range of $100 million to $500 million and requested more time to...
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