Tuesday, November 22, 2011

Las Vegas Monorail remains troubled

The Las Vegas Monorail confirmed Monday it would work on a new plan of reorganization to emerge from bankruptcy following the rejection last week of its latest proposal.
On Friday, Bankruptcy Judge Bruce Markell denied confirmation of a plan that would have left the system encumbered with $44.5 million in debt. With that much debt, Markell said, the system's own financial projections showed it would be doomed to financial failure by 2019. Continued

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