“Submission of these declarations at this late date is unduly prejudicial and does not provide the committee and other parties in interest any time to cross examine and evaluate the testimony,” the committee said. If it is not continued, the committee is asking a series of declarations filed Wednesday by Station Casinos and its banks not be admitted. Late last week, the official committee of unsecured creditors filed an emergency motion to continue the hearing, claiming its attorneys have not been given enough time for discovery of Station Casinos’ plan. “The court will be balancing all sorts of interests to try to figure out the best way to get the highest value for assets of the estate.” “(This hearing) is pivotal,” Rapoport said. Nancy Rapoport, a bankruptcy law professor at the University of Nevada, Las Vegas, said the case moving forward will depend “a lot on what the court does in terms of deciding bidding procedures” and keeping Station Casinos operating smoothly until any sale or restructuring. The hearing is scheduled to begin at 1 p.m. The core of the hearing is a request by the locals gaming company to establishing bidding procedures and deadlines for the sale process to auction the majority of the company’s assets. Station Casinos and its lenders and creditors will begin two days of hearings in Reno today that could set the course for the remainder of the company’s bankruptcy proceedings.
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