Revel's Ch. 11 Plan Gets NJ Casino Regulator's Nod

Law360, New York (May 15, 2013, 8:11 PM EDT) -- The New Jersey Casino Control Commission on Wednesday approved Revel AC Inc.’s Chapter 11 bankruptcy reorganization plan, one of the last hurdles the luxury Atlantic City resort needed to clear before emerging from bankruptcy by the end of the month.

The commission, the agency that licenses and regulates New Jersey’s casinos, approved Revel’s prepackaged plan to reorganize at its regular monthly meeting just days after a New Jersey federal bankruptcy court confirmed the plan, which calls for cutting the company’s debt by $1.2 billion, or roughly...
To view the full article, register now.