A bankruptcy court decision in favor of Florida Gaming Centers Inc., owner of Casino Miami Jai-Alai, reset its relationship with a lender the company accused of perpetrating a loan-to-own scheme.
U.S. Bankruptcy Judge Robert Mark in Miami substantially reduced the amount ABC Funding LLC could claim as debt in its credit bid to take over the casino. In a Feb. 5 order, Mark said the lender’s bid could not include a $33.6 million “repurchase obligation” or $3.5 million in prepayment premiums and interest.
