Lenders Call For Trustee In Miami Casino Ch. 11 Case
By Nathan Hale
Law360, Miami (September 03, 2013, 7:34 PM ET) -- The lenders of Florida Gaming Centers Inc., owner of Miami Jai-Alai, have asked a Florida bankruptcy judge to appoint a Chapter 11 trustee and order that the prepetition receiver be retained, saying conflicts of interest and a history of mismanagement and contract violations justify those measures.
ABC Funding LLC, which orchestrated an $87 million loan two years ago for FGC to build a new casino at Miami Jai-Alai, said the company's decision to file for Chapter 11 bankruptcy protection on Aug. 20 was “completely unexpected and...