WL Homes trustee obtains approval of $8.29 million claim settlement

By Caroline Salls

Pittsburgh, April 16 - WL Homes, LLC Chapter 7 trustee George L. Miller received court approval of a settlement agreement between the company and Legion Indemnity Co., according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

Legion provided general liability policies to WL Homes between 1997 and 2001.

Under the agreement, WL Homes will receive about 82% of the $10.2 million of claims it filed against the liquated Legion, or $8.29 million.

WL Homes could receive additional funds for the late claims it filed, according to court documents.

WL Homes, an Irvine, Calif.-based homebuilder, filed for bankruptcy on Feb. 19, 2009. Its Chapter 11 case number is 09-10571.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.