Soffer bows out of Vegas proceedings

Developer Jeffrey Soffer has recused himself from settling the myriad legal issues surrounding the bankrupt Fontainebleau Las Vegas in an attempt to thwart accusations about a conflict of interest. The developer and head of Fontainebleau Resorts, which runs the Vegas Fontainebleau project and the original Fontainebleau in Miami Beach, guaranteed at least part of the $200 million in debt on the retail part of the project. That section is not bankrupt, though its prospects are limited with the hotel’s bankruptcy. [Miami Herald]