Decision on Card Club Purchase by Flynt Delayed
A federal bankruptcy judge on Tuesday postponed until Dec. 15 a decision on whether adult magazine publisher Larry Flynt can buy the Eldorado Club in Gardena.
Flynt’s attorneys requested more time to conduct an environmental inspection of the card club property, a portion of which was occupied by a gas station, in order to determine if there is any soil contamination.
The Hustler magazine publisher has offered to pay $7.1 million to buy the bankrupt card club that closed last year.
Flynt is competing with W/F Investment Corp. of Century City, which has offered to pay $6.8 million for the club.
An inspection of the club has already revealed some asbestos near the roof that will cost $37,500 to remove. Flynt wants the asbestos cleanup and any soil remediation expenses to be deducted from the purchase price.
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