Las Vegas Monorail Can Seek Bankruptcy Plan Vote, Judge Says
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Las Vegas Monorail Co., which runs a driverless transport system for casino patrons, won a judge’s permission to seek a creditor vote on a bankruptcy exit plan that would pay bondholders $13 million of the $451.4 million they are owed.
U.S. Bankruptcy Judge Bruce A. Markell in Las Vegas said yesterday he would approve a disclosure statement for the plan that gives creditors details about how their debts will be handled. Lower-ranking bondholders owed $207.2 million will get nothing under the proposal.