Lead Bankruptcy Counsel in Las Vegas Hotel Chapter 11

Fountainebleau Las Vegas Holdings, LLC and affiliates
Debtors' counsel to Fontainebleau Las Vegas Holdings, LLC, and two of its affiliates in their chapter 11 cases in the Southern District of Florida. The debtors had over $2 billion of funded debt, had used $500 million of equity, and were prosecuting claims for $800 million in unpaid additional financing. Until it ceased construction, the Fontainebleau debtors were actively developing the "Fontainebleau Las Vegas," a signature "Tier A" casino hotel resort. We handled cash collateral negotiations, created a process for the numerous outstanding mechanic's lien claims, resolved litigation against certain lenders, and prepared and implemented an exit strategy. With Court approval, we conducted a "363" sale of the hotel to the highest bidder. A stalking-horse auction ensued in open court between a publicly-traded casino company and Carl Icahn, with Mr. Icahn ultimately being chosen as the successful bidder. In January 2010, Mr. Icahn closed on the sale of the hotel.
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Jeffrey I. Snyder

Jeffrey I. Snyder

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