Friday, November 9, 2012

Fontainebleau Las Vegas Contractors Win Ruling

The contractors who worked on the still-standing-unfinished 735-foot-tall Fontainebleau Las Vegas stand a better chance of getting paid after the bankruptcy filing than they orginally thought. According to Casino City Times, The Nevada Supreme Court rulled that "mechanic's lien claimants stand in the repayment line ahead of lenders who replaced original lenders." In other words, the creditors who thought their unpaid bills stood first, now have to get behind the contractors - the laborers who built what stands today. They may not get all of the money owed to them, but, as one lawyer put it, it's 'better to have pennies under the mattress,' than none at all. Stay tuned.

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