Levitt and Sons' ad hoc deposit holders' committee seeks official committee status

By Rebecca Melvin

New York, Jan. 7 - Levitt and Sons LLC's ad hoc committee of deposit holders seeks a court order directing the U.S. Trustee to form an official committee of deposit holders in the homebuilder's bankruptcy case that began in November, according to a filing with the U.S. Bankruptcy Court for the Southern District of Florida.

The ad hoc committee is made of a group of individuals who contracted to purchase single family homes at the Levitt and Sons-owned Seasons at Prince Creek West development at Horry County, S.C.

The homes ranged in price from $234,900 to $346,900, and deposits made on those homes were between $19,491 and $58,508, the filing states.

The issues that will likely confront the deposit holders may be at odds with the interests of official committee unsecured creditors generally, the filing states, and an expedited hearing was requested to be set Jan. 9.

Levitt and Sons is the Fort Lauderdale, Fla.-based homebuilding subsidiary of Levitt Corp. Its Chapter 11 case number is 07-19845.

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