Casino Developer Owes $100M In Guarantee Loans: NY Court

Law360, New York (August 28, 2012, 9:27 PM EDT) -- A New York state appeals panel on Tuesday affirmed a lower court's decision that an affiliate of the former operator of a bankrupt Las Vegas casino project owes the development's real estate agent a total of $100 million under a completion guarantee.

The five-judge panel unanimously upheld a January order by New York Supreme Court Judge Melvin Schweitzer ruling that Turnberry Residential Limited Partner LP is not entitled to recover a $50 million deposit made to Wilmington Trust FSB as a guarantee for the casino development...
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