The Receiver sought orders to approve a construction management contract and related financing for the Heart Lake Project, and to authorize amendments or disclaimers of pre-sale agreements for the Uptowns Project.
The court granted the relief, finding it was the best path to maximize stakeholder recovery, noting that the proposed amendments to pre-sale agreements offered homebuyers an option to retain value or claim deposits from a surety policy, and that disclaiming agreements was necessary for financing and project completion.
The court also approved sealing certain financial information to protect future marketability.
