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Sunday, Feb. 13, 2011 | 1:55 a.m.
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The owner of an unfinished Las Vegas hotel filed for bankruptcy reorganization Friday to restructure debt and liabilities of nearly $9.5 million.
The Chapter 11 filing was made by Wingate Airport South LLC, owner of an unfinished Wyndham hotel as well as land at 355 E. Warm Springs Road, west of Bermuda Road.
Las Vegas Convention and Visitors Authority records indicate this was designed as a 211-room Wingate by Wyndham hotel and that it was due to open this spring.
The developer's attorney couldn't immediately be reached for comment on whether the bankruptcy would affect continued work on the project, which was designed with 4,000 square feet of meeting space.
The bankruptcy filing listed creditors including Park Place Properties LLC with a claim of more than $6.6 million against the building, contractor Crowne Tradewinds LLC with a claim of more than $605,000 and Clark County, owed more than $43,000 for property taxes.
Assets of $12 million for Wingate Airport South LLC's real estate top the company's liabilities.
But records show the development and codefendants were hit with two lawsuits in 2009 in Clark County District Court over allegedly unpaid bills by contractors. Those suits have not been resolved.
Several mechanics' liens also have been filed against the project by contractors.
A Houston entity called Multibank 2009-1 CRE Venture LLC holds a $1.1 million deed against the property, the filing shows.
What irony. The big gamers employ thousands of ILLEGALS in their kitchens. This has drained our economy so badly that now their construction projects are in jeopardy.
Yes, roseanrose, That is exactly what has happened. All the illegal immigrants working in hotel kitchens. Just think... if we were to rid ourselves of them, our economic problems would be solved. That's probably what happened to Fontainebleau. And the Palazzo second tower. And perhaps the collapse of the housing market? If we had only known, we could have fired all the kitchen help and be living in Eutopia. Damnit - how much did I tip them?! I'm probably to blame, too. Sweet logic, roseanrose.
Thanks to greedy developers and speculators...CBess.
I put politicians on the same ladder rung as Las Vegas shyster attorneys.
This Las Vegas mess was based in greed, pure and simple. When Ivana Trump wants to build a building in Las Vegas, you know the cockroaches have arrived. Her only claim to fame was marrying Donald.
There were 1000's of Ivana Trumps running around this town trying to throw up any and every building possible. Hopefully they are all bankrupt. Greed ruled. Greed destroyed.
How shameful that these speculators would walk away from their moral obligations to carry their debt; just like home owners. Where's the moral outrage from the right wing nuts.
C-Bess
Is that the only song you know. At least try to pretend your comment has something to do with the story. What so they owe you money or something?