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John Laing Homes, US Subsidiary of Emaar Properties, Filed For Chapter 11

Posted: February 20th, 2009 | Author: | Filed under: Recession News | Tags: , | No Comments »

A company that builds under the brand of John Laing Homes – a US subsidiary of Emaar Properties – has filed for Chapter 11 bankrupcy protection, claiming between $500 million and $1 billion in debts.

WL Homes, which operates 105 real estate developments in Colorado, California, Arizona and Texas, has up to 50,000 creditors, according to its bankruptcy filings.

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