Fontainebleau

Fireﬁghters glad to train in shell of Fontainebleau: Monday, October 19, 2009; By Brendan Buhler; During the next month, the wrecked economy is going to deliver an important public safety benefit: Las Vegas Valley fire fighters are getting a chance to train for one of the city’s worst nightmares, a high-rise hotel fire. And they’ll be doing in it in a real but unfinished high rise, the stalled Fontainebleau.

Executive named examiner in Fontainebleau bankruptcy case: Friday, October 16, 2009; By Steve Green; An executive experienced in financial restructurings was appointed Friday as the examiner in the Fontainebleau Las Vegas bankruptcy case. The U.S. Trustee for Miami's bankruptcy court appointed as examiner Jeff Truitt.

Fontainebleau president among execs leaving project: Thursday, October 15, 2009; By Steve Green; As developers of the bankrupt Fontainebleau Las Vegas resort attempt to sell the unfinished project, the company continues to trim its staff and most recently revealed the departure of its top local executive.

Judge to appoint examiner for Fontainebleau sale: Thursday, October 8, 2009; By Steve Green; The Fontainebleau Las Vegas bankruptcy judge today said he's decided to appoint an examiner to supervise the sale of the property. The judge encouraged Fontainebleau to continue sales talks with Penn National Gaming.

Fontainebleau judge wants quick sale of bankrupt project: Friday, October 2, 2009; By Steve Green; The Fontainebleau Las Vegas bankruptcy judge is pushing for a quick sale of the stalled, partially-completed $2.9 billion casino resort on the Las Vegas Strip. The judge ordered Fontainebleau attorneys to appear at a hearing next Wednesday.

In reversal, Fontainebleau lenders suggest liquidation: Friday, September 25, 2009; Key lenders file motion urging case be converted to Chapter 7 bankruptcy; By Steve Green; A key group of lenders to the stalled Fontainebleau resort has lost confidence that the $2.9 billion project can be revived through the Chapter 11 bankruptcy process, and moved Friday that the project be converted to a Chapter 7 liquidation.

Penn National surfaces as possible Fontainebleau buyer: Friday, September 18, 2009; By Sun Staff; Penn National Gaming is one of the parties interested in buying the stalled Fontainebleau Las Vegas resort, Reuters and the Wall Street Journal reported today. But analysts are skeptical a deal will happen anytime soon.

Fontainebleau: Bank no longer 'seeking to destroy' project: Thursday, September 17, 2009; By Steve Green; The bankrupt Fontainebleau Las Vegas casino-resort development has quietly dropped its allegation that Deutsche Bank has been working to undermine Fontainebleau in order to protect the bank's interest in a competing hotel-casino.

Potential buyer in negotiations for stalled Fontainebleau project: Tuesday, September 15, 2009; By Steve Green; At least one unidentified potential buyer is negotiating to take over the bankrupt Fontainebleau hotel-casino development. But significant hurdles remain for the resort to be sold and its construction completed. But significant hurdles remain for the resort to be sold and its construction completed, including difficulties a buyer may have in obtaining financing. Stung by substantial losses on Las Vegas casino and real estate deals, banks and investors have been wary about investing in Las Vegas during the recession -- especially with a growing over-supply of hotel rooms on and around the Las Vegas Strip.

Fontainebleau contractors seek lien claims in state court: Monday, September 14, 2009; By Steve Green; With the Las Vegas Fontainebleau resort bankruptcy case seemingly stalled, a group of contractors is seeking permission to pursue construction lien claims in state court in Nevada -- outside of the bankruptcy process. The contractors, in a court filing Friday, said they want to get started protecting their lien claims in state court in part because those claims are under attack by lenders in the bankruptcy court.

Fontainebleau suffers defeat as judge sides with banks: Wednesday, August 26, 2009; By Steve Green; The bankrupt Fontainebleau resort suffered a legal defeat Wednesday when a judge ruled in favor of banks it is suing on a key legal question. He ruled the banks, not Fontainebleau, are correct in their interpretation of a key lending contract.

Fontainebleau, banks take steps to resume construction: Monday, August 17, 2009; By Steve Green; Progress is being made in court-ordered mediation aimed at settling disputes and lining up new financing so construction can resume on the big Fontainebleau casino-resort in Las Vegas. That's according to a report issued Friday to a federal judge in Miami who is overseeing a lawsuit filed by Fontainebleau against big bank lenders that this spring halted $656 million in planned funding for the $2.9 billion resort.

Fate of Fontainebleau will likely be determined by new owner: Monday, August 17, 2009; DAILY MEMO: GAMING:; By Liz Benston; The troubled Fontainebleau resort — which may not be worth more than the debt accumulated to build the project — is likely to change hands in bankruptcy.

Fontainebleau builder agrees to six-month license suspension: Friday, August 7, 2009; gaming:; By Steve Green; Fontainebleau Las Vegas resort builder Turnberry West Construction Inc. has settled a complaint filed by the Nevada State Contractors Board by agreeing to a six-month suspension of its license. The settlement, approved by the Contractors Board July 23, relates to a subcontractors' claim that it's owed millions of dollars for work on the casino-resort project on Las Vegas Boulevard. Work on the $2.9 billion project, which was 70 percent complete, was halted in June when Fontainebleau filed for bankruptcy reorganization after major banks halted funding.

Fontainebleau contractor says its liens take priority over lenders: Wednesday, July 15, 2009; the strip:; By Steve Green; A new issue emerged in the Fontainebleau Las Vegas bankruptcy case Tuesday when the resort's general contractor asserted it and the resort's subcontractors hold liens superior to those of the Fontainebleau lenders.