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Real Estate/Development

Jul. 1, 2011

Projects Point the Way Out of Lehman Bankruptcy

When investment giant Lehman Brothers collapsed in 2008, unfinished residential developments put together by the Irvine-based developer SunCal companies also suffered. Now there appears a light at the end of the tunnel for some projects.


By Anna Scott


Daily Journal Staff Writer


When investment giant Lehman Brothers collapsed in 2008, it dragged down with it at least two dozen unfinished residential developments throughout California. Many of those projects, put together by the Irvine-based developer SunCal Companies and backed by Lehman, have languished in legal limbo for the past three years while the two companies spar in court on both coasts.


Now there appears to be light...

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