Pa. homebuilder emerges from bankruptcy




Orleans Homebuilders Inc. has emerged from bankruptcy after a year as a private company with $160 million in new financing,

the

Philadelphia Business Journal

reported.

Old shares in the Bensalem, Pa.-based company have been canceled, the article said.

The new CEO was previously special assistant to the chief restructuring officer. The former CEO, Jeffrey Orleans – grandson of the founder – left the company last fall, the journal report noted. (Source:

Philadelphia Business Journal,

Feb. 15, 2011.)

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