By David Madden
ATLANTIC CITY, N.J., (CBS) — A three judge federal appeals panel in Philadelphia has issued a mixed ruling regarding the planned sale of the shuttered Revel Hotel and Casino in Atlantic City.READ MORE: Hyram Hill, Son Of Philadelphia Police Officer, Killed In Targeted Shooting In North Philly, Sources Say
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. The sale itself is not affected by the 2-1 decision. It will be determined later if the concerns IDEA Boardwalk attorney James Cooper voiced in court play out.READ MORE: Flyers Tie Franchise Record With 12th Straight Loss
“All we’re asking for is to have our real property rights recognized as protected by the bankruptcy code, especially when the other provisions that allow an override weren’t met,” said Cooper.MORE NEWS: Gino's Ristorante & Pizzeria Reopens Amid Hepatitis A Investigation That's Linked To 10 Cases, 3 Deaths
There are concerns Straub could walk away from the $95 million deal, just like Brookfield Asset Management did in November, although Straub would lose a $10 million deposit. He has until Monday to decide.