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Levitt home-building unit gets loan default notices

Mon Oct 22, 2007 5:49pm EDT

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NEW YORK, Oct 22 (Reuters) - Levitt Corp. said on Monday its cash-strapped home-building unit Levitt and Sons LLC has received default notices on three separate loan facilities from Wachovia Bank and one from KeyBank National Association.

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Although Levitt and Sons has not received any other formal notices of default, the company said the Florida home-building subsidiary and its units are not in compliance with their obligations under loan facilities with Bank of America (BAC.N) and Regions Bank.

(Reporting by Ilaina Jonas)

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