WL Homes trustee wins approval for $2.55 million interim distribution

By Caroline Salls

Pittsburgh, May 28 – WL Homes LLC Chapter 7 trustee George L. Miller obtained court approval to make a $2.55 million interim distribution to holders of allowed general unsecured claims, according to an order filed May 27 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. About $13.8 million remains available in estate funds for further distributions.

The approved 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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