Law360, New York (May 25, 2011, 8:22 PM ET) -- A federal bankruptcy judge in Nevada on Wednesday greenlighted Station Casinos Inc.’s plan to turn its Aliante Casino and Hotel over to secured lenders owed more than $378 million.
The court approved Station's prepackaged reorganization plan for the Aliante property, handing the Las Vegas casino and hotel to a group of lenders and moving the bankrupt gaming empire one rung closer to exiting Chapter 11 protection.
“In essence, the plan for the Aliante debtors is a straightforward turnover of the Aliante property to the Aliante lenders...
Station Casinos Hands Aliante Assets To Lenders
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