CORRECTED: Fontainebleau Judge Skeptical About Settlement Bar Order

Law360, New York (July 11, 2014, 7:24 PM EDT) -- The Florida bankruptcy judge overseeing the case of the failed $2.9 billion Fontainebleau Las Vegas casino and resort expressed skepticism Friday about a settlement that would partly bar term lenders from pursuing future prosecution.

U.S. Bankruptcy Judge A. Jay Cristol said he approved of much of the Chapter 7 trustee's proposed settlement — which would in part give $83.3 million to creditors who took losses and waive $676 million worth of claims against bankruptcy estates — but did not at present approve of the settlement's attached...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.