Excerpt:
SunCal Cos. is disputing a city-county Water Utility Authority policy that is designed to prevent "leap-frog" development.
In a Nov. 12 letter from Sun-Cal to a water authority attorney, the company contends that two agreements...
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Albuquerque Journal: SunCal, Water Authority in Dispute
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Added: Nov 19, 2008 at 9:00 PM
Orange County Register: Developer hopes for financing via coastal-project bankruptcy...
Excerpt:
Site improvements could resume full bore on the stalled 248-acre Marblehead Coastal development in San Clemente in a month or so if the project manager succeeds in accessing alternate financing through a bankruptcy plan filed this...
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Added: Nov 14, 2008 at 7:44 PM
Orange County Register: 3 new SunCal bankruptcies surface; 5 more coming
Excerpt:
Irvine-based SunCal Cos. filed three additional involuntary bankruptcy petitions this week, bringing to 15 the number of SunCal-Lehman Brothers projects in California that now are under the supervision of the U.S. Bankruptcy Court...
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Added: Nov 12, 2008 at 9:00 PM
Orange County Register: Girl's handicapped-access playground stalls with home...
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Added: Nov 12, 2008 at 9:00 PM
Bakersfield Californian: Castaic project in SunCal bankruptcy
Excerpt:
A 4,000-home SunCal development in Castaic and three other projects were placed in involuntary bankruptcy by the Irvine developer Wednesday, bringing a total 15 SunCal developments into federal bankruptcy court.
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Added: Nov 12, 2008 at 9:00 PM
Los Angeles Business Journal: Lehman Brothers funding waylays SunCal venture
Excerpt:
SunCal Bickford Ranch LLC, a partnership connected to Irvine developer SunCal Cos. that’s developing a 1,942-acre community between Lincoln and Penryn, on Thursday filed for Chapter 11 bankruptcy.
The company said the action...
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Added: Nov 6, 2008 at 9:00 PM
Alameda Sun: SunCal Stops Work on Oakland Hills Project
Excerpt:
SunCal Companies, which is also developing Alameda Point, announced that it is suspending work at its 167-acre development in the Oakland hills.
Difficulties with Lehman Brothers, the finance giant that declared bankruptcy on...
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Added: Oct 16, 2008 at 8:51 PM
Sacramento Bee: 3 posh projects go bust as Valley dreams bite the dust
Excerpt:
McAllister was going to be a big-time operation, with 6,000 homes and a host of amenities. Developer SunCal Cos. of Irvine borrowed $235 million from Lehman Bros. – part of a $2.2 billion war chest Lehman handed SunCal to develop...
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Added: Oct 11, 2008 at 9:00 PM
Alameda Sun: City has new partner at Alameda Point
Excerpt:
A preliminary assessment of D.E. Shaw demonstrates the validity of the council members' concerns; Bloomberg News calls D. E. Shaw "a hedge fund group with a reputation for secrecy." In May 2007, the now-bankrupt firm of Lehman...
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Added: Oct 10, 2008 at 9:00 PM
The Island: Operating at the Point
Excerpt:
Tonight, the City Council is slated to discuss the detailed operating agreement between Alameda Point developer SunCal and D.E. Shaw, the New York hedge fund that the developer has taken on as a financial partner in the midst of an...
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Added: Oct 6, 2008 at 9:00 PM