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Nevada Supreme Court stays asset seizure

Monday, Feb. 11, 2002 | 9:46 a.m.

The Nevada Supreme Court granted on Friday a request by Binion's Horseshoe hotel-casino to stay an order to surrender $1.9 million of its assets by today as security for membership fees allegedly owed to Fremont Street Experience LLC, saying it found Binion's appeal has "issues of arguable merit."

The casino filed an appeal Wednesday with the Nevada Supreme Court challenging a Feb. 28 ruling by Clark County District Judge Gene Porter that granted Fremont Street's request for a writ of attachment -- a document that allows the Clark County sheriff to seize funds to secure an unsecured claim -- to be imposed on $1.9 million in funds at Binion's casino cage.

Fremont Street sued Binion's in August to recover $1.9 million in alleged past assessments since 1998 and current monthly dues after funding shortfalls forced a number of public events to be cancelled.

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