Tousa seeks continued access to cash collateral beyond May 31

By Caroline Salls

Pittsburgh, May 11 - Tousa, Inc. requested court approval to use the cash collateral of its pre-bankruptcy lenders on and after June 1, according to a Tuesday filing with the U.S. Bankruptcy Court for the Southern District of Florida.

The cash collateral use is scheduled to expire on May 31.

Because no decision has been made yet on a key lawsuit appeal, Tousa said it is in talks with the lenders and its official committee of unsecured creditors regarding the continued use of cash collateral.

Tousa, a Hollywood, Fla.-based homebuilder, filed for bankruptcy on Jan. 29, 2008. Its Chapter 11 case number is 08-10928.

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