NexBank Seeks To End FX Luxury's Exclusivity

Law360, New York (May 7, 2010, 5:00 PM EDT) -- NexBank SSB and second-lien lenders are pressing a bankruptcy court to terminate FX Luxury Las Vegas I LLC’s exclusive right to gain support of its reorganization plan so that they can put forth a rival plan.

NexBank, which is the collateral agent for second-lien lenders, and a group of second-lien lenders filed a motion with the U.S. Bankruptcy Court for the District of Nevada on Wednesday to end the CKX Inc. unit’s exclusivity period so that they can propose a plan that provides recoveries to unsecured...
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