Soneet Kapila, the chief administrator for the Fort Lauderdale-based home builder’s bankruptcy case, has secured about $105 million from the sale of homes and other related assets since the company went broke nearly four years ago, the Miami Herald reported.
Levitt and Sons’ housing projects in Florida, Georgia and North and South Carolina were halted after the downturn forced the company into bankruptcy in 2007. Kapila was appointed administrator for one of Levitt’s lenders in 2008.
Having worked to complete construction on all developments and sold units to buyers, Kapila filed a motion to be discharged as administrator, stating he had fulfilled his duties. [Miami Herald]