MGM Mirage's City Center Project Averts Bankruptcy

Law360, New York (March 27, 2009, 12:00 AM EDT) -- MGM Mirage has made a $200 million interest payment for its embattled City Center development in Las Vegas, staving off a possible bankruptcy filing for the $8.6 billion megaproject.

Several news outlets reported early Friday, citing anonymous sources, that the City Center resort and casino complex on the Las Vegas Strip could have to file for bankruptcy over the weekend if MGM Mirage failed to make the payment.

On Friday afternoon, the company said in a statement that it had made the payment, which includes $100...
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