Lake Las Vegas Resort Developer Files For Ch. 11

Law360, New York (July 17, 2008, 12:00 AM EDT) -- The master developer of the Lake Las Vegas Resort, a combination residential development and vacation complex in Nevada, has filed for Chapter 11 bankruptcy protection, citing a difficult real estate market.

According to court documents filed Thursday in U.S. Bankruptcy Court for the District of Nevada, Lake at Las Vegas Joint Venture LLC has assets of between $100 million and $500 million and debts of between $500 million and $1 billion.

In a statement, the company blamed its financial woes on “a combination of poor liquidity,...
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