Las Vegas Monorail Wins Permission to Seek Vote on Plan

Las Vegas Monorail Co., the bankrupt nonprofit company that proposed paying bondholders about 9 percent of the $500 million they are owed, won court permission to send its reorganization plan to creditors for a vote.

U.S. Bankruptcy Judge Bruce A. Markell agreed to approve a disclosure statement for the plan yesterday after asking lawyers for the company and creditors to modify the wording, Susan Freeman, an attorney for bond trustee Wells Fargo Bank NA, said in an interview.