The Real Deal Miami

Soffer bows out of Vegas proceedings

October 09, 2009 10:33AM

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]