Station Casinos Creditors Attack Disclosure Statement

Law360, New York (July 9, 2010, 3:28 PM EDT) -- Bankrupt Station Casinos Inc.'s unsecured creditors are claiming that the company failed to provide key information about its restructuring proposal, including the total value for an asset sale involving the company's founders and the extent of liability releases.

The official committee of unsecured creditors, which represents the interest of investors in about $2.4 billion in unsecured notes, lodged its objection to the casino company’s disclosure statement Thursday in the U.S. Bankruptcy Court for the District of Nevada.

Parties seeking to advance a reorganization plan in Chapter...
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