Revel, Creditors Agree On Auction Of Assets Worth Up To $1B

Law360, Los Angeles (July 11, 2014, 9:15 PM EDT) -- The bankrupt owner of Atlantic City's Revel Casino Hotel and Wells Fargo Principal Lending LLC on Friday reached a deal in New Jersey bankruptcy court with its unsecured creditors over proposed sale procedures in an auction of the company's assets, estimated to be worth up to $1 billion.

The parties agreed to bidding procedures for the auction — slated for early next month — in which lenders will be able to offer debt instead of cash, an attorney for Revel confirmed to Law360 on Friday....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.