Bankruptcy Court Approves WCI Relief Package
August 6, 2008, Tampa Bay Business Journal/Marketwatch, among others

As reported in a variety of outlets, Chief Judge Kevin J. Carey of the US Bankruptcy Court located in Wilmington, Delaware has approved a relief package for bankrupt builder WCI Communities.  WCI, which builds and sells luxury homes, recently filed for Chapter 11.  The relief will protect homebuyers who currently own or are considering purchasing WCI properties from various risks during the bankruptcy proceedings.

"The company has worked very hard to formulate the special relief it would need so that its transition into Chapter 11 would have no impact on past, present or future customers," said Thomas E Lauria, head of White & Case’s Global Financial Restructuring and Insolvency Group, who is advising WCI.