Revel Sued By IDEA Boardwalk Over Bar, Nightclub Lease
By David McAfee
Law360, Los Angeles (October 15, 2013, 6:03 PM ET) -- Revel Entertainment Group LLC, the Atlantic City luxury resort that recently emerged from Chapter 11 bankruptcy, was hit with an adversary lawsuit in New Jersey bankruptcy court on Monday by IDEA Boardwalk LLC for allegedly defaulting on obligations for three new nightclubs after IDEA invested $16 million.
The suit comes after Revel announced in May that it had completed its financial restructuring and emerged from Chapter 11 with lenders owning an 82 percent stake in the resort and casino. Revel's emergence from bankruptcy comes two months...