In rather interesting Orange County, California real estate news, William Lyon Homes is out of bankruptcy.  Lyon — led by veteran builder Gen. William Lyon — said its bankruptcy reorganization was completed Saturday, just two months after it filed a “pre-packaged” deal that brought in $85 million of fresh funds to the company. In reorganization, Lyon said it cut debt by $180 million, or 37%, as interest paymenst were cut by 45% or $25 million a year.

Once an almost entirely family-owned business, the financial repackaging left the Lyon family with a minority 20% share. Gaining control were Colony Capital and Colony Financial, run by investor Tom Barrack (who also arranged for fresh funding for Lyon Homes in 2009) and Luxor Capital, Lyon’s largest note holder.

William Lyon Homes has been building homes for Orange County residents for over 50 years.

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Cheryl Marquis has been an active and successful real estate agent in South Orange County, California for more than 25 years. As a TOP PRODUCER in her company, Cheryl has received the specific accreditation of a Certified Relocation Specialist (CRS) and Accredited Buyers Agent (ABR) and is a member of the Who’s Who of Luxury Real Estate, a select network of the world’s leading luxury home agents. A member of C.A.R. (California Association of Realtors), N.A.R. (National Association of Realtors) and O.C.A.R. (Orange County Association of Realtors). To talk to Cheryl about buying or selling a home in Orange County, call her at 949.683.1501 or visit her online at www.CherylSellsOC.com.