International edition
September 25, 2021

Creditors are trying to overturn the decision to allow a sale of part of the firm

Station Casinos judge refuses to block bankruptcy auction

(US).- Station Casinos can proceed with plans to auction most of its properties, a judge ruled. US Bankruptcy Judge Gregg Zive in Reno, Nevada, denied a request by lower-ranking station creditors to halt the August 6 auction while they pursue appeals.

T

he creditors are trying to overturn Zive’s decision to allow a sale of part of the company. The committee of unsecured creditors still has the option of asking a U.S. District Court judge to halt the auction, said the panel’s lawyer, Brett A. Axelrod of Fox Rothschild. “Stay tuned,” Axelrod said Tuesday in an interview.

Zive is overseeing Station’s reorganization, which involves breaking the Las Vegas-based company into two parts, both of which would be taken over and reassembled by a partnership led by company Chairman Frank Fertitta and his brother, Vice Chairman Lorenzo Fertitta. The Fertittas and their partners, including some company lenders, must first win the August 6 auction for a majority of Station’s 18 casinos.

Lori Nelson, a spokeswoman for Station, declined to comment. The case is In re Station Casinos Inc., 09-52477, U.S. Bankruptcy Court, District of Nevada (Reno).

What is your opinion about this article?
  • I like it
    %
    0 votos
  • I don't like it
    %
    0 votos
  • I have not thought about it
    %
    0 votos
Leave your comment
Newsletter Subscription
Subscribe to receive the latest news and updates
Enter a valid email
Complete the captcha
Thank you for registering to our newsletter.
Follow us on Facebook