Affiliates of Lauth's largest financial backer, Inland American Real Estate Trust in Chicago, agree to dismiss their suit
developer, and also withdraw a request to have a Chapter 11 trustee appointed.
The outlook for commercial real estate development continued to worsen in 2009, as one major name faltered and other companies
scrambled to redesign their business models and capitalize on the carnage.
Developer Lauth Group Inc. is sparing no expense on attorneys in the Chapter 11 reorganization of key subsidiaries. The company has hired two of the nation’s most prominent bankruptcy and restructuring specialists to handle the cases, and the bill for the first month easily will exceed $1 million.