The Real Deal Miami

Woodbridge pays Levitt $12.5M

June 30, 2008 02:53PM

Woodbridge Holdings Corp. is paying Levitt and Sons $12.5 million after
Levitt claimed it was entitled to part of the federal income tax refund
received by the recently renamed company.
Woodbridge will receive Levitt’s losses from prior periods, and both
Woodbridge and Levitt agreed to waive and release any charges against
each other.