Legends Gaming plan confirmation hearing may require additional time

By Jennifer Lanning Drey

Portland, Ore., May 21 - Legends Gaming LLC's hearing for approval of its plan of reorganization may be extended by an additional day, an attorney said Thursday after three days of proceedings in the U.S. Bankruptcy Court for the Western District of Louisiana.

The hearing was originally scheduled to conclude May 22.

As previously reported, the plan was unanimously rejected by the company's first-lien and second-lien lenders.

The lenders believe the plan is not feasible, but the company maintains it will be able to make plan payments.

The plan was accepted by five voting creditor classes prior to the hearing.

Frankfort, Ill.-based Legends Gaming owns and operates two gaming properties under the DiamondJacks Casino brand. The company filed for bankruptcy on March 11, 2008. The Chapter 11 case number is 08-10824.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.