$2.8B Vegas Hotel’s Lenders, Contractors Near Ch. 7 Deal

Law360, Miami (April 25, 2013, 6:40 PM EDT) -- Attorneys for contractors and lenders warring over who will get paid first in the Chapter 7 proceedings of the failed $2.8 billion Fontainebleau Las Vegas resort on Thursday told a Florida bankruptcy judge that they are on the brink of a deal.

Daniel Gold of Ehrenstein Charbonneau Calderin, who represents the contractors, told U.S. Bankruptcy Judge A. Jay Cristol that the parties are currently negotiating the terms of a comprehensive settlement that will not just deal with several adversary proceedings in the bankruptcy. He asked to...
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