Lenders Demand Fontainebleau Ch. 7 Amid Work Halt

Law360, New York (September 30, 2009, 12:53 PM EDT) -- Term lenders to bankrupt resort developer Fontainebleau Las Vegas LLC have asked for the $3 billion project to be liquidated because there has been no progress on construction at the site since the developer filed for bankruptcy protection in June.

In a motion filed Friday in the U.S. Bankruptcy Court for the Southern District of Florida, the term lender steering group said that under normal circumstances they would be able to agree to a sale of Fontainebleau and its affiliated debtors' assets under Section 363 of...
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