| California Coastal Communities announced that on October 28, 2009, it received a delisting determination letter from the Nasdaq Stock Market Listing Qualifications Staff indicating the Staff's decision to delist the Company's common stock from the Nasdaq Stock Market pursuant to Nasdaq Marketplace Rules 5100, 5110(b) and IM-5101-1. The determination was made following the company's recent filing of a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code pursuant to which the company is seeking to extend the maturity dates and change the repayment schedules for its approximately $182M of Brightwater credit facilities in order to repay the debt in full in 2013 based on currently expected home sales over the next four years :theflyonthewall.com |
