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.
After failing to sell their property for a second time, owners of the Revel casino head back to court in an effort to re-coup some money from a former potential buyer.
A call to kill the deal to sell the bankrupt Revel Atlantic City to a Florida-based businessman remains in limbo after yet another court hearing in Camden. While a judge is expected to rule on Thursday, the developer is once again negotiating with the hotel-casino to salvage the transaction.
The order allows for the operators of the closed HQ nightclub to preserve their legal rights, should developer Glenn Straub close on the sale of the Revel.
Sources tell KYW Newsradio a meeting will be held Monday in New York City, hosted by Revel bankruptcy attorneys, in the hope of getting the accord with Brookfield Asset Management back on track.
Revel opened in April 2012. It cost $2.4 billion to build, but never turned a profit.
Transport Workers Union Local 234 members have voted in favor of ratifying a new, two-year contract with SEPTA.
SEPTA officials joined leaders from Transport Workers Union Local 234 late Friday night to announce that a deal had finally been reached.
Maclin signed a one-year deal in February to stay with the Eagles in 2014.
The Justice Department reached an agreement to allow merger of US Airways and American Airlines.
By better than two-to-one, members of Camden’s police union have voted down a deal that would have allowed more of their number to transfer to a new force to be run by Camden County, with the FOP serving as their bargaining agent.
Michael Vick and the Philadelphia Eagles have agreed on a six-year deal.
Newspaper and digital media publisher the Journal Register Co. says it has been acquired by hedge fund Alden Global Capital less than two years after emerging from bankruptcy protection and implementing an expansive digital presence.