DR Horton Reaches $11M Deal With Bankrupt Fla. Community

Law360, New York (July 12, 2017, 4:38 PM EDT) -- A bankruptcy trustee for a Miami Gardens, Florida, homeowners association has reached an $11 million settlement with D.R. Horton Inc. to resolve claims over the residential developer's allegedly shady business practices after a bankruptcy judge ruled against it last year, according to a Tuesday announcement.

The self-described largest residential developer in the United States has agreed to the resolution of an adversary proceeding that led U.S. Bankruptcy Judge A. Jay Cristol to conclude in October that D.R. Horton and several employees knowingly breached their fiduciary duties and conspired through misleading financial management to accelerate turnover of the master association for the Majorca...

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