Judge Expected To Rule Friday On Whether To Approve Revel Sale
By David Madden
CAMDEN, N.J., (CBS) -- The judge presiding over the Revel bankruptcy sale expects to rule Friday on whether to approve the $82 million deal with Florida developer Glenn Straub. But day long proceedings suggest this will not be a slam-dunk decision for the judge.
The judge is weighing, among other things, whether she even has jurisdiction to rule given appeals of her previous orders in the case. But she makes it clear she understands the urgency here. Summer is just around the corner. Wells Fargo is ready to pull the plug on funding day to day Revel costs. And while two different entities are expressing interest at the 11th hour, neither one has made a firm offer nor put down a dime of deposit.
Anyone who can put up a better offer to Straub's full cash in escrow bid has until the end of the month to do it.