Wells Fargo Balks At Centaur's Disclosure Statement

Law360, New York (May 19, 2010, 3:54 PM EDT) -- Wells Fargo Bank NA is lashing out at Centaur LLC's disclosure statement, arguing that it ignores the complexities of the bankrupt casino and racetrack operator's organizational structure, asset ownership arrangements and creditor constituencies.

In a filing Tuesday in the U.S. Bankruptcy Court for the District of Delaware, Wells Fargo — the administrative and collateral agent for the debtors' second-lien lenders — contended that the facts and circumstances related to the company and its creditors do not support the “simplistic approach” of the most recent version of...
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