Tags: US | Fontainebleau | Icahn

Icahn May Win Fontainebleau as Rivals Drop Out

Wednesday, 20 Jan 2010 02:18 PM

Billionaire investor Carl Icahn is closer to buying the unfinished Fontainebleau Las Vegas casino-resort on the Strip after two other bids failed to satisfy bankruptcy auction rules.

Court-appointed examiner Jeffrey Truitt said in U.S. Bankruptcy Court papers that the two other submissions received by the Jan. 15 deadline didn't include the required deposit.

Three additional parties indicated interest — two mulling a joint offer — but didn't bid, Truitt said.

He didn't name any parties other than Icahn, who in November offered $105 million in cash plus $51.5 million in construction funding.

Truitt says he'll now work to resolve by Jan. 27 objections that lien holders, contractors and a door company have raised to selling.

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Billionaire investor Carl Icahn is closer to buying the unfinished Fontainebleau Las Vegas casino-resort on the Strip after two other bids failed to satisfy bankruptcy auction rules.Court-appointed examiner Jeffrey Truitt said in U.S. Bankruptcy Court papers that the two...
US,Fontainebleau,Icahn
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2010-18-20
 

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