The second amended and restated joint reorganization plan of Manhattan residential real estate developer Tarragon Corp. is now effective and the company has emerged from Chapter 11 protection (In re Tarragon Corp.).
The plan, sponsored by UTA Capital LLC, an investor based in West Orange, N.J., became effective July 12, according to court documents.
Tarragon and 19 affiliated entities filed for Chapter 11 protection on Jan. 12, 2009, listing total pre-petition assets of $1 billion and debt totaling $1.04 billion (21 BBLR 92, 1/22/09). The company said the bankruptcy filing followed a period of financial losses brought about by ...
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