Levitt & Sons Lender Slams Exit Plan Disclosures

Law360, New York (August 7, 2008, 12:00 AM EDT) -- A major lender to Levitt & Sons LLC has urged a bankruptcy court to reject the disclosure statement accompanying the homebuilder's recently filed liquidation plan, saying it leaves creditors in the dark.

In an objection filed with the U.S. Bankruptcy Court for the Southern District of Florida on Wednesday, Bank of America NA – one of Levitt's largest creditors - said the June 27 disclosure statement lacked the basic information that would allow creditors an informed vote.

The bank, which financed a loan to Levitt before...
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