From OregonLive:

Portland builder Legend Homes is emerging intact, albeit a much smaller firm, after two-years in bankruptcy court.

U.S. Bankruptcy Court Judge Trish Brown approved Legend’s final reorganization plan on Tuesday.

“We believe Legend Homes is well-positioned to lead the reinvention of Oregon’s home building industry,” said Jim Chapman, Legend’s president and CEO.

Legend, for years one of Oregon’s largest homebuilders, was vulnerable when housing demand slackened. It had borrowed heavily to buy land in Southern California and Clark County, Washington.

Read the full article here.