REAL ESTATE
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CALC files for voluntary Chapter 11 bankruptcy, continued ...
"The actions we are pursuing are the most efficient means available to us to negotiate a timely and consensual balance sheet restructuring with our core lenders," continues Pacini.
The firm will continue to operate "business as usual" and says it does not expect any interruption nor does it foresee any impacts on its homebuilding and sales efforts.
CALC also went through a similar process in 1997, according to Pacini. He says the move helped the firm to emerge stronger.
"Today, we intend to create a better balance between the steady pace of sales at Brightwater and the repayment schedule of our long-term debt."
CALC's principal subsidiaries are Hearthside Homes and Signal Landmark.
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CALC files for voluntary Chapter 11 bankruptcy, continued ...
"The actions we are pursuing are the most efficient means available to us to negotiate a timely and consensual balance sheet restructuring with our core lenders," continues Pacini.The firm will continue to operate "business as usual" and says it does not expect any interruption nor does it foresee any impacts on its homebuilding and sales efforts.
CALC also went through a similar process in 1997, according to Pacini. He says the move helped the firm to emerge stronger.
"Today, we intend to create a better balance between the steady pace of sales at Brightwater and the repayment schedule of our long-term debt."
CALC's principal subsidiaries are Hearthside Homes and Signal Landmark.
<< PREVIOUS PAGE
Related headlines
Economic forecast: recovery will be bumpy
O.C. bankruptcy filings rise in September
Irvine-based Diedrich seeks new CEO
3000 The Plaza in Irvine sees 19 sales in 2 months
