LAS VEGAS, Feb. 8 (UPI) -- A lender's attorney in Las Vegas said a scheduled auction of foreclosure for the city's Hard Rock Hotel had been canceled due to a last minute deal.
Lenders agreed to new terms that had been hammered out over the weekend, canceling Tuesday's expected auction, the Las Vegas Sun reported.
NorthStar Realty Finance Corp. attorney Jeff Silver said, "The lenders and borrowers have reached an agreement going forward that would make the foreclosure tomorrow unnecessary."
"I would applaud the gaming agencies and (casino management firm) Navegante for working with the parties to keep the property operating," he said.
|Additional Business News Stories|
TEL AVIV, Israel, May 17 (UPI) --Nobel Energy of Houston, which discovered Israel's big gas fields in the eastern Mediterranean, is pressing the government to decide soon on an energy export policy as the prospect of an undersea pipeline to Turkey gains credibility.