'Idol' Owner's Vegas Attraction Plan Ends Up In Ch. 11

Law360, New York (April 22, 2010, 7:03 PM EDT) -- A real estate investment affiliate of “American Idol” owner CKX Inc.'s chairman has sought bankruptcy protection, asking for a court-sanctioned auction of property along the Las Vegas strip that had been tentatively slated to become an Elvis Presley-themed resort or other development.

FX Luxury Las Vegas I LLC, an affiliate of CKX chairman and CEO Robert F.X. Sillerman, filed a petition for Chapter 11 protection Wednesday in the U.S. Bankruptcy Court for the District of Nevada, saying its debts far outweigh its assets, including the value...
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