RCLCO's Testimony Contributes to Judge Olson's Decision on TOUSA's Fraudulent Transfer Case
FOR IMMEDIATE RELEASE – October 29, 2009
Washington, DC – RCLCO’s market and financial economic analysis, valuation services, and expert testimony provided by Managing Director Charles Hewlett, were key components of Judge Olson’s ruling in support of unsecured creditors involved in the TOUSA bankruptcy. The unsecured creditors sued lenders on fraudulent transfer claims alleging that actions by lenders improperly stripped value from the bankruptcy estate of TOUSA. News articles estimate the value of the decision at upwards of $600 million.
RCLCO was responsible for determining the value of TOUSA’s homebuilding assets (400 individual communities in 9 major metropolitan markets) as of July 31, 2007, and continues to advise the Unsecured Creditor’s Committee on TOUSA’s wind down plan.
Links to articles related to this case, and to Judge Olson’s decision and information on RCLCO’s distressed asset and litigation support services, are provided below.
Articles:
Financial Times:
http://www.ft.com/cms/s/2/ee15950c-ba3d-11de-9dd7-00144feab49a.html
Bloomberg:
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=al3PpBoifS3A
Wall Street Journal:
http://online.wsj.com/article/SB125555159224285641.html
182-Page Opinion:
http://amlawdaily.typepad.com/TOUSAfindings.pdf
RCLCO Distressed Assets and Portfolio Services:
http://www.rclco.com/content/?nl=2&navid=46&ctype=general&main=2
About RCLCO
RCLCO is comprised of seasoned, senior-level industry professionals whose expertise covers all facets of real estate investment, planning, development and asset management—across a full range of capital structures, product types, markets and cycles. RCLCO was founded in 1967 and has offices in Austin, Atlanta, Los Angeles, Orlando, and Washington, DC.
October 29, 2009
FOR IMMEDIATE RELEASE – October 29, 2009Washington, DC – RCLCO’s market and financial economic analysis, valuation services, and expert testimony provided by Managing Director Charles Hewlett, were key components of Judge Olson’s ruling in support of unsecured creditors involved in the TOUSA bankruptcy. The unsecured creditors sued lenders on fraudulent transfer claims alleging that actions by lenders improperly stripped value from the bankruptcy estate of TOUSA. News articles estimate the value of the decision at upwards of $600 million.
RCLCO was responsible for determining the value of TOUSA’s homebuilding assets (400 individual communities in 9 major metropolitan markets) as of July 31, 2007, and continues to advise the Unsecured Creditor’s Committee on TOUSA’s wind down plan.
Links to articles related to this case, and to Judge Olson’s decision and information on RCLCO’s distressed asset and litigation support services, are provided below.
Articles:
Financial Times:
http://www.ft.com/cms/s/2/ee15950c-ba3d-11de-9dd7-00144feab49a.html
Bloomberg:
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=al3PpBoifS3A
Wall Street Journal:
http://online.wsj.com/article/SB125555159224285641.html
182-Page Opinion:
http://amlawdaily.typepad.com/TOUSAfindings.pdf
RCLCO Distressed Assets and Portfolio Services:
http://www.rclco.com/content/?nl=2&navid=46&ctype=general&main=2
About RCLCO
RCLCO is comprised of seasoned, senior-level industry professionals whose expertise covers all facets of real estate investment, planning, development and asset management—across a full range of capital structures, product types, markets and cycles. RCLCO was founded in 1967 and has offices in Austin, Atlanta, Los Angeles, Orlando, and Washington, DC.
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