Court Blocks Sale Of Las Vegas Casino's $150M Senior Loan

Law360, New York (January 5, 2012, 6:50 PM EST) -- A New York appeals court Thursday temporarily halted a junior lender's attempts to buy the $150 million senior loan tied to a Las Vegas casino and resort, according to an attorney for some holders of commercial mortgage-backed securities tied to the loan.

The $150 million senior loan was folded into a commercial mortgage-backed securitization in 2007. Some of the holders of that securitization claim in their suit, filed Dec. 28, that the junior lender, who holds a $10 million junior loan on the property, was trying...
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