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As part of the plan, they must pay past-due interest and principal on land-backed bonds. The foreclosure was against Ritter Ranch Co. Bankruptcy Court may resurrect long-dormant plans to develop Ritter Ranch on the outskirts of Palmdale, where a 20,resident mini-city was once planned.
Over 20 years, Ritter Ranch is expected to grow into a community of about 20, residents. Bankruptcy Judge Geraldine Mund in Woodland Hills recently approved a plan that lets new developers tackle a master-planned community on 7, acres of land known as Ritter Ranch.
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