Centaur Junior Lenders Object to Proposed Foreclosure

Law360, New York (September 23, 2010, 7:19 PM EDT) -- Wells Fargo Bank NA and other junior lenders in Centaur LLC’s bankruptcy are trying to block to a move by Credit Suisse Group AG to foreclose on more than $50 million in assets associated with Valley View Downs, an aborted casino project in western Pennsylvania.

In an objection filed Wednesday in the U.S. Bankruptcy Court for the District of Delaware, the junior lenders claim that the disputed cash is not first-lien collateral and therefore the judge should not grant the first-lien agent, Credit Suisse, relief from...
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