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Ch. 11 May Be On Horizon For Riviera Holdings

Law360 (March 31, 2009, 12:00 AM EDT) -- Riviera Holdings Corp. said Tuesday it was not able to come up with a roughly $4 million interest payment under its credit facility, an issue that may send the troubled Las Vegas casino operator into bankruptcy as many companies in the industry are struggling to stay afloat.

Riviera said it had entered into discussions with Wachovia Bank to negotiate a waiver or forbearance regarding a notice of default related to a $20 million five-year revolving credit facility that it received when it failed to make the...
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