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&lt;p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;"&gt;&lt;font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2"&gt;WCI Communities,&amp;#160;Inc. (the &amp;#8220;Company&amp;#8221;) is a lifestyle community developer and luxury homebuilder in several of Florida&amp;#8217;s coastal markets. Our business is organized into three operating segments: homebuilding, real estate services, and amenities. Our homebuilding operations design, sell, and build single- and multi-family homes targeting move-up, second-home, and active adult buyers. Our real estate service businesses include real estate brokerage and title services. Our amenities operations own and operate golf courses and country clubs, marinas and resort-style amenity facilities within many of our communities.&lt;/font&gt;&lt;/p&gt;
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&lt;p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;"&gt;&lt;font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2"&gt;On August&amp;#160;4, 2008, WCI&amp;#8217;s predecessor company and certain subsidiaries (the &amp;#8220;Debtors&amp;#8221;) filed voluntary petitions for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware. The Debtors filed a joint plan of reorganization (&amp;#8220;Reorganization&amp;#8221;), which was declared effective on September&amp;#160;3, 2009, and the Debtors emerged from bankruptcy on that date. In conjunction with the emergence from bankruptcy, the Company was formed as a holding company that owns 100% of the equity in WCI Communities, LLC and WCI Communities Management, LLC.&lt;/font&gt;&lt;/p&gt;
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