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November 29, 2009

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Attorneys report progress in resort’s sales process

Friday, May 31, 2002 | 11:03 a.m.

Attorneys involved in the sale of the Aladdin say they're making progress completing a plan that will bring the $1.2 billion Las Vegas Strip hotel-casino out of bankruptcy.

"The various constituents are still conferring and happy with the way things are progressing," Aladdin attorney William Noall said after a procedural hearing in U.S. Bankruptcy Court Thursday.

Aladdin officials plan to sell the property rather than draft a bankruptcy reorganization plan.

Sources remain tight-lipped about who is bidding for the 2,567-room resort that sought bankruptcy protection in September.

Judge Robert Jones on Thursday scheduled a June 18 hearing to review progress on the sale. He'll also consider a motion for summary judgment by Northwind Aladdin LLC in a dispute over who owns an on-site Aladdin power plant. That dispute could hold up the sale of the resort.

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