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Fontainebleau Sues Banks
Resort Says Lenders Defaulted On Payments
POSTED: 9:37 pm PDT April 23,
2009
UPDATED: 10:10 pm PDT April 23,
2009
LAS VEGAS -- The new Fontainebleau Las Vegas has filed a lawsuit against several banks it says backed out of a loan commitment.The resort is being built across from Circus Circus.The company said Bank of America, JP Morgan Chase and other lenders defaulted on almost $800 million in pre-arranged payments.The lawsuit also claims the lenders received billions in federal bailout money meant to increase the flow of credit.
Previous Stories:
- October 2, 2008: 2 Injured At Fontainebleau Project
- December 10, 2007: Retaining Wall Causes Workers' Injuries
- August 6, 2007: Fontainebleau Suspends Construction After Mishap
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