Customers taking bankrupt Levitt & Sons to court

FT. LAUDERDALE, Fla. - Customers of bankrupt Levitt & Sons, which was building Seasons on Lake Lanier, a huge retirement community in Hall County, have banded together to protect homes they were in the process of buying.

Bloomberg News - quoting their attorney - says the committee was formed by a group of people who paid about a million dollars in deposits on houses in a SOUTH CAROLINA retirement community the firm was building.

Their attorney says their deposits range from about $25,000 each to around $58,000.

Levitt & Sons filed for bankruptcy Nov. 9 after getting default notices on more than $306 million in loans.

http://accesswdun.com/article/2008/1/205402