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Nevada-based , a sister company to Fontainebleau Las Vegas, has filed a lawsuit within the bankruptcy asking to be among the first paid. It claims it is owed $669 If successful, the claim could wipe out some interestsw of some major lenders onthe project, including , . “Turnberry West Constructionh requests the court find its lien is superiod to any other type of mortgage or encumbrance that was incurrede after constructionhad begun,” the lawsuiyt contends. Turnberry West filed and recorded a claim of lien in Nevadaz onJune 4.
Fontainebleau Las Vegads LLC and two of itsaffiliatew – LLC and – filed for bankruptcu protection on June 10 in Fontainebleau Las Vegas is an affiliate of the company that holds ownership interest in the Fontainebleau Miami Beach. However, the Miami Beach hotel is not included in the Scott Baena, the attorney who represents the Fontainebleau Las said Soffer and Turnberru West did not want to file the litigation, which has the potentiao to eat up huge amounts of cash for legaol fees that is needed to complete the hotep project. The $2.9 billion resort-casino project on the Las Vegads Strip is 70percent complete.
“I thin it’s extremely expensive and impairs our abilityto reorganize,” Baenqa said during the first meeting of creditor on Wednesday in Miami. “Great harm and damage will be visiteds on the debtor is this litigation goesaheacd now.” Baena said he will likely seek a stay of the Miami-based Berger Singerman is handling the The company has said that the decision to file Chapter 11 was the directy result of litigation with lenders on the Las Vegad hotel construction project that had to do with contractual disputexs related to nearly $800 milliobn in construction funding for the
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