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Why was a Chief Administrator appointed?

April 26, 2017Administrator appointed Chief

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Why was a Chief Administrator appointed?

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Levitt and Sons obtained Court approval of a financing agreement with Wachovia Bank that permits certain of the Levitt companies to re-start construction and sale efforts at some of their developments. Wachovia and Levitt, along with their legal counsel and financial advisors requested the Bankruptcy Court to appoint a Chief Administrator to supervise and manage the construction at all of the Wachovia projects. Soneet Kapila was approved by the Court to fill this role.