Tropicana Lenders Blast Noteholders' $2.4M Fee Bid

Law360, New York (September 3, 2009, 4:48 PM EDT) -- A group of Tropicana Entertainment LLC lenders has lambasted a claim filed by noteholders seeking reimbursement for $2.4 million in litigation costs racked up trying to oust the bankrupt casino operator's contentious former owner.

The steering committee of senior secured lenders objected Wednesday to an administrative claim filed by the ad hoc consortium of senior subordinated noteholders in the U.S. Bankruptcy Court for the District of Delaware.

The consortium blew through $42,710 daily — including $170,000 before Tropicana filed for bankruptcy — to pursue litigation that...
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