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Alameda Point Developer, SunCal, Has 30 Bankruptcies Pending

SunCal Companies, the master developer for Alameda Point, and the creator of Measure B, the Alameda Point Development Initiative, has over thirty bankruptcies pending in court. When SunCal was wooing Alameda City Council for master developer status, they told the City that their sole-source financing partners, Lehman Brothers, was a strong financial partner, just as they are now asserting that their sole-source finance partner for Alameda Point, DE Shaw, is a strong financial partner.

Here is a list of the bankruptcy cases.

Earliest Involuntary Cased Filed by Unhappy Mechanics Lien and Junior Mortgage Creditors, where the Chapter 11 Trustee Now Controls Projects:

LBREP/L-SunCal Master I LLC – Bankruptcy Court Case No. 08-bk-15588-ES (Lead Case for Motion Filing Purposes on these 4 cases)
LBREP/L-SunCal McAllister Ranch LLC – Case No. 08-bk-15637-ES
LBREP/L-SunCal McSweeney Farms LLC – Case No. 08-bk-15639-ES
LBREP/L-SunCal Summerwind Ranch LLC – Case No. 08-bk-15640-ES
(4 total)

Voluntary Cases Filed by SunCal Companies management:

Palmdale Hills Property, LLC – Case 8:08-bk-17206-ES (Lead Case for Motion Filing Purposes for the 26 cases below)
SunCal Beaumont Heights LLC – Case 8:08-bk-17209-ES
SunCal Bickford Ranch LLC – Case 8:08-bk-17231-ES
SunCal Communities I, LLC – 8:08-bk-17248-ES
SunCal Communities III, LLC – 8:08-bk-17249-ES
SunCal Emerald Meadows Ranch, LLC – 8:08-bk-17230-ES
SunCal Johannson Ranch, LLC – 8:08-bk-17225-ES
SunCal Summit Valley, LLC – 8:08-bk-17227-ES
SCC/Palmdale, LLC – 8:08-bk-17204-ES
Acton Estates, LLC – 8:08-bk-17236-ES
Seven Brothers, LLC – 8:08-bk-17240-ES
SJD Partners, LTD – 8:08-bk-17242-ES
SJD Development Corp. – 8:08-bk-17249-ES
Kirby Estates, LLC – 8:08-bk-17246-ES
(14 cases)

First four of nine Involuntary Cases Filed by SunCal Companies management to avoid Lehman consent problem:

SunCal Heartland LLC 08-bk-17407-ES (Riverside County Project)
LB/L-SunCal Oak Valley LLC 08-bk-17404-ES (Riverside County Project)
LB/L-SunCal Northlake LLC 08-bk-17408-ES (Los Angeles County Project)
SunCal Marblehead LLC 08-bk-17409-ES (Orange County Project)
(4 cases)

Second four of nine Involuntary Cases Filed by SunCal management on 11/14 to avoid Lehman consent problem:

SunCal Century City, LLC Case 8:08-bk-17458-ES (City of Los Angeles)
SunCal PSV, LLC – Case 8:08-bk-17465-ES (“Palm Springs Village” in Palm Springs Area)
SunCal Torrance Properties, LLC – Case 8:08-bk-17472-ES ((Torrance plaza redevelopment)
Delta Coves Venture, LLC – Case 8:08-bk-17470-ES (San Joaquin delta area)
(4 cases)

More voluntary cases filed 11/19/08:

Tesoro SF, LLC – Case 8:08-bk-17523 (Los Angeles County Project)
SCC Communities LLC – Case 8:08-bk-17572 (San Bernardino Co., CA Project )
North Orange Del Rio Land, LLC Case 8:08-bk-17574 (City of Orange CA)
(3 cases)

Last of nine predicted involuntary cases filed 11/19/08:

SunCal Oak Knoll, LLC, Case 8:08-bk-17588 (Oakland, CA Project)
(1 case)

30 total as of 11/19/08.

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