Law360, San Diego (November 18, 2011, 10:26 PM ET) -- A Nevada bankruptcy judge on Friday refused to confirm Las Vegas Monorail Co.'s reorganization plan to climb out of Chapter 11, holding the current plan “dooms it to failure.”
U.S. Bankruptcy Court Judge Bruce Markell ruled that the company had failed to show that a confirmed plan was not likely to be followed by the need for further financial reorganization. Although the plan has gained creditor support, the judge noted that it seeks to saddle Las Vegas Monorail with debt more than twice its value, that...
Judge Balks At Las Vegas Monorail’s Ch. 11 Plan
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