Tropicana Files Ch. 11

"The owner of the landmark Tropicana Las Vegas and former parent of the Tropicana Casino and Resort in Atlantic City, N.J., finally filed for Chapter 11 late Monday, May 5, in the U.S. Bankruptcy Court for the District of Delaware in Wilmington.

The filing is one of the largest this year, with the troubled casino operator listing $2.84 billion in assets and $2.43 billion in debts in its petition.

Marc Kieselstein, David Seligman, Marc Carmel and Eric Kalut are lead counsel at Kirkland & Ellis LLP in Chicago."

This article appeared in its entirety in the May 7, 2008 edition of The Deal.