Icahn’s Bid To Probe GB Holdings Denied

Law360, New York (February 16, 2006, 12:00 AM EST) -- Billionaire financier Carl Icahn has been barred from reviewing the books of bondholders and a minority shareholder of the bankrupt GB Holdings Inc., the owner-in-part of Atlantic City's Sands Casino.

In the bitterly contested case, a federal bankruptcy judge this week denied Icahn’s bid to investigate whether the bondholders and minority shareholder should be allowed to file their own reorganization plans for the company and potentially gain control of the Sands Casino.

The company’s unsecured creditors committee, which represents the bondholders, objected to Icahn’s bid on...
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