Bankruptcy Court early on Monday to state their intent to bid. Burns was told that another unidentified party contacted the U.S. 'This is the first time in this case there seems to be a buzz going on,' she said of the apparent bidding interest. 2, Burns said she welcomed the burst of interest in the two-year-old complex. Still, given that the casino had postponed two previously scheduled auctions for a lack of bids and finally closed on Sept. The hearing was marked by threats of litigation if the auction was postponed, complaints that Straub was being secretive about his plans for the massive complex and the appearance of a potential competing bidder. The auction was set for two weeks after Straub's proposal was made public, and creditors complained potential buyers could use more time to put together competing bids. Revel also got approval to pay Straub a $3 million break-up fee if his is not the winning bid at the auction.
23 as the deadline for competing bids to top the $90 million offered by Florida developer Glenn Straub and his Polo North Country Club Inc. Judge Gloria Burns in Camden, New Jersey also set Sept. 24, a judge ruled on Monday, after the only bidder clashed with creditors who wanted to slow the rushed sale. By Tom Hals (Reuters) - The bankrupt Revel casino hotel in Atlantic City will go to auction on Sept.
