Icahn Picks Up Fontainebleau Las Vegas For $150M

Law360, New York (January 27, 2010, 7:19 PM EST) -- A company controlled by billionaire investor Carl Icahn has won a judge's approval to purchase the partially built Fontainebleau Las Vegas casino resort development from its bankrupt owner for $150 million, which includes debtor-in-possession financing already extended in the case.

Judge A. Jay Cristol of the U.S. Bankruptcy Court for the Southern District of Florida on Wednesday approved the sale of the resort to Icahn Nevada Gaming Acquisition LLC, according to an attorney who helped represent the official committee of unsecured creditors.

All objections to the...
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