Feb 9, 2015 11:36 AM
Judge to hear Revel buyer's case for extending sale deadline
The Associated Press
ATLANTIC CITY, N.J. (AP) A bankruptcy court judge will consider a request by the buyer of Atlantic City's Revel casino to delay the closing date for the sale.
Judge Gloria Burns will hear a motion Wednesday by Florida developer Glenn Straub asking the court to delay the closing for his $95.4 million purchase of the shuttered casino resort until Feb. 28.
The sale was supposed to close Monday.
Straub agreed late Sunday night to extend the deadline while legal issues can be decided, including appeals from business tenants at the casino and from its sole supplier of utility service.
A different judge will hear arguments Monday afternoon from those businesses, who say their $16 million investment would be wiped out if Straub is allowed to buy the casino free and clear of their leases.