WCI has emerged from bankruptcy, after filing for Chapter 11 protection in August 2008. It is now a private company, with the largest shareholder being a private investment firm. The Vice President of this company, Monarch Alternative Capital LP is also on the new board of directors for WCI. All of the previous shareholders and unsecured creditors are gone, and there is also a brand new board of directors. While WCI has had many projects in Florida, they have also developed other projects in Connecticut, New Jersey, and New York.