Centaur Creditors Decry Credit Suisse $10M Setoff Bid

Law360, New York (October 27, 2010, 2:45 PM EDT) -- Bankrupt casino operator Centaur LLC’s unsecured creditors and junior lenders are battling Credit Suisse Group AG's attempt to offset a $10.5 million claim with $50 million in cash tied to a gaming license for the aborted Valley View Downs project in Pennsylvania.

The official committee of unsecured creditors and second-lien agent Wells Fargo Bank NA on Tuesday urged Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District of Delaware to reject Credit Suisse’s bid to lift the bankruptcy stay and take the $10.5...
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