Unsecured lenders in a business in Chapter 11, UK based couple.

We were in exactly the same position as you and thought that we had lost our deposit. We were recently contacted by the Developer (3 months ago) to see if we still had an interest to close on a property and if yes we would get 100% credit of our deposit towards the closing of a home. So we drove down (since we are in South Florida) to see if anything was actually being constructed and a few units are 90% complete , some areas have not even been started still looking at vacant land, club house is in the process of being finished although they have been saying this for sometime now, when we got there their were workmen working on the pool area of the club house,the clubhouse itself appeared to be structurally complete , so we decided to close on a unit that supposedly will be ready this month (November) they said, suffice to say because of the down turn in the real estate market we are now getting the Villa we had previously paid down on for almost 50% less. We again signed a new sales contract for the lowered price . Before we close we will definitely have a lawyer review our docs to make sure we get title free and clear of any liens etc and also before closing we need a copy of the appraisal to see if the new purchase price holds up with the appraisal, don't want to shell out anymore money on a investment that continues to lose money...If you are trying to get back your deposit , not sure if you will have any luck getting it back ( we did ask for our deposit back even 50% off it we would accept and no luck either) but the developer seems as if they are trying to at least deliver on the property promised... In my opinion as an investors a Chapter 11 scenario is better than Chapter 7..You should give Tuscany Preserve a call and speak with Moshe Sheffi .