Tropicana Noteholders' $2.4M Fee Bid Denied

Law360, New York (September 22, 2009, 12:58 PM EDT) -- Tropicana Entertainment LLC noteholders will not be reimbursed for $2.4 million in costs they amassed litigating a motion that removed the bankrupt casino operator's controversial former owner, a federal bankruptcy judge has ruled.

The ad hoc consortium of senior subordinated noteholders claimed that their work was a “textbook substantial contribution,” but Judge Kevin J. Carey denied their application for compensation in an order filed Monday in the U.S. Bankruptcy Court for the District of Delaware.

Judge Carey discussed his reasons for denying the request at a...
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