LandSource disclosure hearing continued by agreement of major parties

By Jennifer Lanning Drey

Portland, Ore., May 20 - LandSource Communities Development, LLC's hearing on approval of the disclosure statement filed by lender agent Barclays Bank plc for the company's Chapter 11 case was continued by agreement of major constituents at a hearing Wednesday in the U.S. Bankruptcy Court for the District of Delaware, according to an attorney.

The hearing is scheduled to resume June 1.

As previously reported, the hearing was also pushed back in April at the request of the company's official committee of unsecured creditors.

Barclays has since filed an amended plan of reorganization and related disclosure statement.

LandSource, a Los Angeles-based developer of master-planned communities, filed for bankruptcy on June 9, 2008. It Chapter 11 case number is 08-11111.

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