Pursuits
Revel Backup Buyer Wants Price Cut $8.4 Million: Bankruptcy
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(Bloomberg) -- The back-up bidder for Revel AC Inc., nowhaving the right to buy the shuttered Atlantic City, New Jersey,casino, wants the bankruptcy judge to cut the $95.4 millionpurchase price by $8.4 million in view of alleged improprietiesin the auction process.
The purchase price for the casino’s assets should be $87million, not the $95.4 million offered by Glenn Straub’s PoloNorth Country Club Inc. at an auction, Polo North said in a Dec.24 court filing.