Fontainebleau May Appeal Lawsuit Rulings

LAS VEGAS-The developer of the stalled Fontainebleau resort may appeal the legal ruling that stalled its lawsuit against the would-have-been final-stage lenders for the partially completed multi-billion-dollar development. It may also appeal the ruling that moved the lawsuit from US Bankruptcy Court to US District Court. The project, which sits 70% complete at the north end of the Las Vegas Strip, is in the process of being sold out of Ch. 11 bankruptcy by a court-appointed examiner.

“The court’s orders raise issues of law concerning which there are substantial grounds for difference of opinion,” attorneys for Fontainebleau said in court papers filed Friday, according to the Las Vegas Sun. The attorneys reportedly also stated that if Fontainebleau does appeal, a decision should be made at the earliest possible time because the lawsuit remains “an important part of its efforts to reorganize” and “deferring an appeal until the conclusion of these proceedings would undermine those efforts and, even if successful, would almost certainly come too late to be of any real assistance,” the company said in its filing, according to the article.