Bankruptcy and Financial Restructuring

Porzio Congratulates Revel Amenity Tenants on Favorable Ruling and Continued Dedication to Atlantic City

7/2/2015 | News

Porzio, Bromberg & Newman, P.C., counsel for the Amenity Tenants of the Revel Casino Hotel, obtained a favorable ruling from the U.S. Bankruptcy Court for the District of New Jersey affirming the Amenity Tenants' dedication to Atlantic City's future.  On June 24, 2015, U.S. Bankruptcy Judge Michael B. Kaplan issued a ruling in favor of  Revel's Amenity Tenants, which includes highly and critically acclaimed restaurant, entertainment, nightclub, retail and spa establishments, reaffirming their rights at Revel and requiring the new owner of Revel to provide access to allow the Amenity Tenants to preserve physical assets, as well as to investigate, plan and take the necessary steps to restart their operations.

The Amenity Tenants, represented by Porzio, Bromberg & Newman, P.C., include  Amada Restaurant, Core Casino store, Core Departures store, Core Lobby store, Distrito Cantina, Exhale Atlantic City, Ivan Kane's Royal Jelly Burlesque Nightclub, Luke's Kitchen and Marketplace, Mussel Bar and Grille, Village Whiskey and Yuboka.

Polo North, the acquirer of the Revel facility, had contested the nature of the Lease Agreements between Revel and each of the Amenity Tenants, and also challenged the Amenity Tenants' continuing rights in the leased premises and under each of their respective Lease Agreements. The Amenity Tenants have continually reaffirmed that they are vested in Atlantic City and this ruling has advanced their desire to move toward a reopening of their businesses at Atlantic City's newest hotel and resort property.

The Porzio team was led by attorneys Warren J. Martin, Jr., Robert M. Schechter and Rachel A. Parisi.

More >