Calif. Slams Barclays' Disclosure For LandSource

Law360, New York (April 16, 2009, 12:00 AM EDT) -- The state of California has objected to the disclosure statement filed by Barclays Bank PLC for bankrupt real estate developer LandSource Communities Development LLC, saying that the statement omits LandSource's $18 million obligation to clean up a toxic site.

In an objection filed Friday in the U.S. Bankruptcy Court for the District of Delaware, California's Department of Toxic Substance Control said that the disclosure statement was incomplete because it made no mention of LandSource's duty to clean up a contaminated property it owns on Mare Island...
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