Lenders 1st In Line For Payout From $21M Vegas Property Sale

Law360, New York (March 28, 2013, 3:46 PM EDT) -- A group of syndicated lenders should be the first recipients of proceeds from the $21 million sale of a planned 1,340-acre residential property in Las Vegas, taking priority over an adjacent landowner, a Nevada bankruptcy judge ruled Monday.

U.S. Bankruptcy Judge Mike K. Nakagawa said that the first-lien lenders, whose agent is Wilmington Trust NA, should get the first crack at $5 million that had been set aside from the proceeds of the property's sale. He rejected the claim of an entity known as BOH Park...
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