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Lucky Dragon Hotel & Casino Financing Motion Denied

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The U.S. Bankruptcy issued an order denying Lucky Dragon Hotel & Casino’s motion for the entry of interim and final orders authorizing the Debtors to obtain financing. The Debtors had previously requested financing on the following grounds, “the Debtors now seek post-petition financing to continue to pay their operating expenses, as well as professional fees and other Chapter 11 administrative expenses needed to ensure the Debtors are able to preserve their Property and business operations and go through a thoughtful sale process which maximizes the value of the Debtors’ estates for all creditors and parties in interest.”

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