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WCI Communities charts path out of bankruptcy as another developer files for protection
By James Thorner,
St. Petersburg Times
Published: Jun 11, 2009

As one real estate developer charted a path out of bankruptcy, another developer plunged in. WCI Communities Inc. filed reorganization plans this week in the hopes of starting fresh later this year. The builder/developer's local handiwork includes parts of Sun City Center and Westshore Yacht Club. WCI entered Chapter 11 in August. Meanwhile, a Hernando County condo developer sought the protection of bankruptcy court this week. Hernando Beach Inc., owner of Southern Pines Condominium, owes between $1 million and $10 million. Sales have tanked at the medium-priced complex off Cortez and Clinton boulevards in Brooksville. Debtors includes Center State Bank in Zephyrhills and Cortez Community Bank in Brooksville.




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