Lennar May Buy Stake In Newhall Ranch

Home builder Lennar Corp. stands to buy a 15 percent stake in the Newhall Ranch project if a group of creditors signs off on a reorganization plan OK’d by a judge today for the project’s bankrupt parent company.


During a 2 1/2-hour hearing in Delaware, U.S. Bankruptcy Court Judge Kevin J. Carey signed off on the reorganization plan for LandSource Communities Development LLC, sending the plan to creditors for a vote, then back to Carey for final confirmation later this summer.

LandSource – owner of Newhall Land and Farming Co. – filed for Chapter 11 protection on June 8, 2008.

Read Tuesday’s edition of The Signal for a full report.

Click HERE to view article.

Stay in the Loop about the Newhall Ranch Development

Join our mailing list to receive the latest news and updates about the Newhall Ranch Project.

You have Successfully Subscribed!