Lender Slams Brookfield's Renewed Atlantis Resort Deal

Law360, Wilmington (April 4, 2012, 2:59 PM EDT) -- Brookfield Asset Management Inc.’s renewed bid to take control of the Atlantis Paradise Island resort in the Bahamas from Kerzner International Ltd. came under fire Tuesday in a lawsuit claiming Brookfield is merely trying to rehash an unfair deal previously blocked by a Delaware court.

In January, a Delaware Chancery Court judge temporarily halted the $175 million debt-for-equity swap after Trilogy Portfolio Co. LLC and other lenders that helped Brookfield finance the resort's $2.5 billion mortgage filed suit claiming the deal and associated restructuring of the...
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