由 jeepster » 2014-09-30 11:37
The auction for the bankrupt Atlantic City hotel/casino began last week and resumed this morning, with an affiliate of Brookfield Asset Management (BAM) topping a $90M all-cash offer from Florida-based real estate developer Glenn Straub, reports the WSJ.
Should Straub not win the auction, he would collect a $3M breakup fee for serving as the lead bidder. In any case, the fate of the property could end up in court thanks to a budding legal dispute between Straub and Revel.