A key Aladdin hotel-casino creditor is objecting...
A key Aladdin hotel-casino creditor is objecting to a proposal to sell the bankrupt Las Vegas Strip property. General Electric Capital Corp., the resort’s equipment lease financier, has asked a U.S. bankruptcy judge to stop the court-supervised sale.
GE Capital’s 20-page filing cited newspaper reports that Aladdin executives are “contemplating a sale to a specific buyer on terms which do not appear to provide for satisfaction of creditors’ claims,†including those of GE Capital. A hearing on the objection is scheduled April 4.
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