Station Casinos Lease Plan Racks Up Naysayers

Law360, New York (December 7, 2009, 3:48 PM EST) -- Objections have piled up against bankrupt Station Casinos Inc.'s most recent master plan governing a compromise agreement on casino hotel leases, a plan opponents say could reduce rent payments by about $23 million.

Two major lenders to Station Casinos' indirect wholly owned subsidiary FCP PropCo LLC, a debtor, as well as Station Casinos' independent lenders and the official committee of unsecured creditors, filed objections to the plan Friday in the U.S. Bankruptcy Court for the District of Nevada.

“It eviscerates what is perhaps the most formidable...
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