WL Homes trustee to distribute $2.55 million to unsecured creditors

By Kali Hays

New York, May 11 – WL Homes LLC Chapter 7 trustee George L. Miller is seeking court authorization to make a $2.55 million interim distribution to holders of allowed general unsecured claims, according to a Monday motion filed with the U.S. Bankruptcy Court for the District of Delaware.

As of March, the company had distributed about $71.9 million to holders of allowed claims and about $13.8 million remains available in estate funds for further distributions.

The proposed distribution represents 2.6% of the remaining general unsecured claims, according to the motion.

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

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