Business Services Industry
Home Builder Gets Money to Finish Jobs in Florida's Orange, Lake Counties.
Knight Ridder/Tribune Business News, December, 1998 by Snyder, Jack
Knight Ridder/Tribune Business News
Dec. 1 -- Work is expected to resume today on 46 houses in Orange and Lake counties that ran into trouble when their builder failed to pay suppliers and subcontractors.
Three lenders and numerous subcontractors and suppliers have agreed to complete the houses under a plan approved in U.S. Bankruptcy Court, said Scott Shuker, the attorney representing the builder, XL Homes Inc. of Altamonte Springs.
XL's lenders -- AmSouth Bank of Florida, One Mortgage Corp. and Citrus Bank -- will provide money to complete the houses. Shuker said the lenders, suppliers and subcontractors will be paid for the work as the homes are finished and the sales are completed.
Money owed to suppliers and subcontractors...
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