International edition
June 24, 2021

Unsecured creditors have filed objections with parts of the firm's proposals

Station Casinos seek to keep funding operations

(US).- A federal bankruptcy judge in Reno is due to hear arguments this week on a Station Casinos plan to fund continuing operations while it's in Chapter 11 protection. Las Vegas-based Station filed for voluntarily bankruptcy protection June 28.

I

t wants US Bankruptcy Judge Gregg Zive to let it use us$ 30 million in cash collateral to pay capital and operational expenses for 13 weeks.

Unsecured creditors have filed objections with parts of the company's proposals. They argue that fixed interest rates on some Station loans is higher than current market rates, hurting the company.

Almost us$ 2.5 billion in mortgage-backed securities are leveraged against four of the company's hotel-casinos.

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