WL Homes’ Chapter 7 trustee gives final report on case

By Sarah Lizee

Olympia, Wash., Sept. 19 – WL Homes LLC Chapter 7 trustee George L. Miller filed a final report with the U.S. Bankruptcy Court for the District of Delaware.

According to the final report, all scheduled and known assets of the estate have been reduced to cash, released to the debtor as exempt property under bankruptcy code, or have been or will be abandoned.

The trustee realized gross receipts of $97.63 million.

Funds were disbursed in the following amounts: $61.37 million in payments made under an interim distribution; $25.3 million in administrative expenses; and $320,198.69 in bank service fees.

This leaves a balance on hand of $10.64 million.

The remaining funds are available for distribution, Miller said.

WL Homes, an Irvine, Calif.-based homebuilder, filed for Chapter 11 bankruptcy on Feb. 19, 2009. The case was converted to Chapter 7 on June 5, 2009. Its case number is 09-10571.

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