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Hard Rock in Las Vegas to keep rocking

Feb. 8, 2011 at 1:32 PM   |   Comments

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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.

© 2011 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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