(Bloomberg) -- The back-up bidder for Revel AC Inc., now
having the right to buy the shuttered Atlantic City, New Jersey,
casino, wants the bankruptcy judge to cut the $95.4 million
purchase price by $8.4 million in view of alleged improprieties
in the auction process.
The purchase price for the casino’s assets should be $87
million, not the $95.4 million offered by Glenn Straub’s Polo
North Country Club Inc. at an auction, Polo North said in a Dec.
24 court filing.