Station Casinos Creditors' Fraud Claims Trigger Protest

Law360, New York (January 14, 2010, 4:15 PM EST) -- Lenders are crying foul over a bid by unsecured creditors of Station Casinos Inc. to pursue fraudulent transfer claims related to the lenders' leveraged buyout and lease agreement, which the creditors allege is responsible for the casino company's insolvency.

Lenders who helped finance the buyout — including JPMorgan Chase & Co. and German American Capital Corp., which together constitute the so-called CMBS lenders — lodged motions Wednesday in the U.S. Bankruptcy Court for the District of Nevada, saying the claims are without merit and the creditors...
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