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MASTER PLANNED COMMUNITIES
SOUTHERN CA
SITUATION:
RDS was retained by a major institution with more than $2 billion invested in 24 master planned communities located in Southern California; RDS was engaged to evaluate each community’s entitlement status, determine work necessary to preserve existing entitlements and negotiate more than $100 million of third-party claims.
A large portion of the claims were either bonded claims, lien claims or in litigation; there were over 100 existing lawsuits and more than 500 vendors with outstanding accounts payable.
THE PLAN:
Immediately settle all liens and bond claims; efficiently manage the litigation process for claimants; continue with entitlement work and preserve the value of the underlying communities.
RESULTS:
Settled approximately 300 claims with an average savings of approximately 40 cents on the dollar; successfully managed the litigation process for claimants who would not settle. Negotiated work with claimants to continue with critical entitlement work while preserving the value of the communities.
