The Real Deal Miami

Fontainebleau Vegas seeks speedy resolution

June 18, 2009 10:13AM

Last week’s bankruptcy filing by Fontainebleau Las Vegas triggered many worries in Nevada and Miami, where the suit was filed, and got lawyers busy seeking a resolution. The developers’ lawyers claim Bank of America, Deutsche Bank and Royal Bank of Scotland breached their commitment to lend another $800 million to the project, and the lawyers want Miami bankruptcy court Judge A. Jay Cristol to order the banks to turn over $656 million immediately to restart construction. A hearing is expected close to July 7.