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Wachovia Slams Levitt & Sons' Exclusivity Bid

Law360 (October 10, 2008, 12:00 AM EDT) -- A major lender to Levitt & Sons LLC has asked a bankruptcy court to deny the homebuilder's latest motion to extend its exclusive right to solicit support for its liquidation plan, saying the debtors' creditors should not be further prejudiced.

Wachovia Bank, a secured creditor and post-petition lender to Levitt, told the U.S. Bankruptcy Court for the Southern District of Florida on Thursday that the debtors did not deserve a fourth extension, which would give the company until Jan. 31, 2009, to collect votes.

Levitt, which...
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