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08 Sep 09 OBJECT TO MOTION of BONDHOLDER in STATION CASINO

One of the highest revenue casinos is the Las Vegas, Nevada –- there are different problems in which casinos are facing today, one that really the casinos was the problem regarding with the economic crisis, bondholders in Station Casinos was trying to impose themselves it the position wherein they need to bring the lawsuits in 2007 a multibillion-dollar buy-outs as the bankruptcy evolving on it.
There could have been more manifestations that the station casino was in the midst of the crisis. Unsecured creditors was afraid of this motion that’s why they are now asking from the bankruptcy court to protect the creditors’ ability to further investigate the transaction that heavily leveraged the company and somehow might led it to bankruptcy, they know that their money is not secure and they are aware of it and might happen at the future objection filed by the committee in U.S. Bankruptcy Court in Reno shows. Behold their liabilities to protect their money is the only way that they might be out of the motion.
Unsecured creditors was afraid of this motion that’s why they are now asking from the bankruptcy court to protect the creditors’ ability to further investigate the transaction that heavily leveraged the company and somehow might led it to bankruptcy, they know that their money is not secure and they are aware of it and might happen at the future objection filed by the committee in U.S. Bankruptcy Court in Reno shows. Behold their liabilities to protect their money is the only way that they might be out of the motion.

According to the committees of Station Casino their only objective is to have series of motion that would prevent the committee from investigating the buyout while protecting parts of the company from possible lawsuits. In this way they abbreviate all the possible ways to alter the bankruptcy as it is the major problem.
The filing stated that there will be blocking of motions from the company to the committees while taking the actions that will preserve the value for unsecured creditors as the bankruptcy proceeds. If this will happen the motion will be prolong for it is the being unresolved and it looks like there is no such turning point on it. Some of the people inside the company were benefited immensely according to of the insider.
Upon leaving at Station Casinos and its creditor’s there is more questionable benefit in return, the buy out of Fertitta Families and the Los Angeles-base real estate firm Colony Capital which are joining ventures together, during the time wherein the overall economy, the credit markets are all becoming strained. The total cost of the Station Casino was $4.17 billion to purchase stock and incur new debt of another $1.6 billion.

Buyouts could be open according to the unsecured creditors, lawsuits under the federal bankruptcy code and law if:
• All the transfer involving the property of the company and/ or the incurrence of an obligation of the company.
• Companies will receive only less-than-reasonably not the accurate equivalent value for the buyout.
• Company was rendered insolvent during the time of the transaction.
• Insufficient capital together with data that’s how the company being done and there’s no such capacity for them that they can repay.
As the filing states that while further investigation is certainly required. Undeniably there are some issues that must be addressed concerning whether the buyout transactions involving constructively and, or actual fraudulent transfers.” Declining comment on filing as the Station casino asked. The schedule for the hearing was on Wednesday in Reno regarding with the company’s motions.

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