Lake At Las Vegas Plan Gives DIP Lenders Equity

Law360, New York (September 8, 2009, 2:16 PM EDT) -- Resort developer Lake at Las Vegas Joint Venture LLC has proposed a blueprint for getting out of bankruptcy under which debtor-in-possession lenders led by Credit Suisse Group would end up with more than 90 percent of the equity in the reorganized debtors.

Lake at Las Vegas Joint Venture filed a Chapter 11 plan and disclosure statement in the U.S. Bankruptcy Court for the District of Nevada on Friday, and said the company had reached an agreement on a plan term sheet with its official committee of...
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