Can I go on my contract if the builder files for Chapter 11 and again my deposit?

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Homebuilders Orleans files bankruptcy! This story in the Chicago Tribune Monday, 01/03/2010. “Orleans Home Builders, Inc., a homebuilder based in Pa. evolution of the five municipalities in Illinois, filed for protection under Chapter 11 bankruptcy in U.S. Bankruptcy Court in Wilmington, declared insolvency Business Delaware.Das it was necessary because the $ 350,000,000 senior secured the agreement of loan credit facility had matured and could extend to an agreement on the credit facility of 100 percent of his group of 17 members bank or a replacement facility to erreichen.Orleans said he had reached the court’s approval, an agreement on 40 000 0000 U.S. dollars in debtor-in-possession financing and there would be no interruption in the functioning of its 11 divisions in eight states. Orleans is a suburb of Chicago developments in Lake Villa Aurora, Schaumburg, Bolingbrook and submission Woodridge.Die does not include its mortgage services subsidiary Alambry Funding, Inc., a brokerage service mortgage customers. “We wrote a check to Alambry Funding Inc., have not been pioneering yet.We a check in early January 2010 and were third in the buyers of 11 years, which can be contracted with this builder.Anybody with experience in what you know me, what should I do.

1 Comment
  1. Reply
    Othniel
    January 21, 2011 at 4:49 pm

    It’s worth a phone call to Alambry. There may be hope to get your deposit back especially in view that the construction will not likely proceed.

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