Albuquerque Journal: Judge Denies Westland Bankruptcy; Lenders Had Filed Foreclosure Lawsuit Against SunCal Cos
Page one story
May 20, 2010
A federal judge in Delaware last week threw out a bankruptcy claim filed by Westland DevCo, a limited partnership formed between D.E. Shaw and SunCal Cos. to develop a 55,000-acre parcel west of Albuquerque into a master planned community.
SunCal put up its project's assets, including the land, as collateral, according to the lawsuit. That means the lenders could seize the project from SunCal if it doesn't come up with the money.
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