Judge OKs Majestic Star's Ch. 11 Plan To Repay $65M

Law360, New York (January 18, 2011, 1:24 PM EST) -- A bankruptcy judge has signed off on Majestic Star Casino LLC's reorganization plan, paving the way for the gaming operator to seek creditor approval on paying its senior secured credit facility lenders the full $65.3 million they are owed.

Judge Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware gave his stamp of approval to the company's second amended disclosure statement Friday and set a confirmation hearing for March 10.

Under the terms of the proposed plan, senior secured credit facility lenders are...
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