Tropicana Just Makes Disclosure Statement Deadline

Law360, New York (January 12, 2009, 12:00 AM EST) -- Tropicana Entertainment LLC filed its Chapter 11 disclosure statement Sunday, narrowly beating the expiration of the company's exclusivity period.

The filing of the disclosure statement in the U.S. Bankruptcy Court for the District of Delaware followed three days after Tropicana filed its reorganization plan. Tropicana Entertainment's exclusivity period was set to expire Monday.

The reorganization plan sets up procedures for the distribution of assets, including the establishment of a litigation trust.

Tropicana and its unsecured creditors committee have been playing a high stakes game of chicken...
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