We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Tousa To Get $250K In Settlement With Appraiser

Law360 (December 10, 2008, 12:00 AM EST) -- Bankrupt homebuilder Tousa Inc. has settled with a real estate appraiser it accused of performing faulty due diligence on a 2005 acquisition for $250,000, a small fraction of the $500 million in losses Tousa said it incurred as a result of that deal.

U.S. Bankruptcy Judge John K. Olson of the U.S. Bankruptcy Court for the Southern District of Florida signed an order Tuesday approving the settlement between Tousa and Real Estate Engineering Inc.

After commencing negotiations to acquire Transeastern Properties in 2005, Tousa hired REE...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.