Lenders Losing Patience With Station Casinos

By James Armstrong

Law360, New York (November 11, 2009, 2:39 PM ET) -- Independent lenders of bankrupt Station Casinos Inc. are objecting to an extension of the company's exclusivity period, arguing the casino operator is using exclusivity to block plan alternatives it does not like.

In an objection filed Tuesday in the U.S. Bankruptcy Court for the District of Nevada, the lenders said a 120-day extension of exclusivity is not justified and if anything there may actually be cause for the exclusivity period to be terminated.

The independent lenders, which include BNP Paribas, General Electric Capital Corp., Genesis CLO,...
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