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Legends Gaming plan confirmation hearing needs more time
By Jennifer Lanning Drey
Portland, Ore., June 5 - Legends Gaming LLC's hearing for approval of its plan of reorganization will continue on a date that had not yet been determined late Friday, which was the seventh day of the hearing, according to an attorney.
The hearing is being held at the U.S. Bankruptcy Court for the Western District of Louisiana.
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.
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