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Sunday, June 25, 2006
Ind. Courts - A little more on: Judge seals records in French Lick casino dispute without hearing
Lesley Stedman Weidenbener of the Louisville Courier Journal writes today in a story headlined "Casino squabble not likely to play out like Trump fiasco," about the secret legal dispute betwwen the two partners in the French Lick casino project. A few quotes:
INDIANAPOLIS -- The mysterious squabble between the current partners developing a casino in French Lick might seem reminiscent of the situation just last year involving Trump Hotels & Casino Resorts. * * *Eventually, Trump declared bankruptcy and a new executive director of the commission, Ernie Yelton, could never get the company to fully commit to the project; therefore, the state never signed the contract for the casino.
That's when the state restarted the bidding process. This time, though, only one bidder emerged -- one offered by the partnership of Bloomington-based Cook Group and Indianapolis-based Lauth Property Group.
Everybody seemed thrilled about the marriage. * * *
But it's clear now that things haven't gone swimmingly.
Yelton acknowledged this month that the companies were in mediation over a dispute about control of the project.
According to the commission's secretary, Evansville lawyer Donald Vowels, the companies had an agreement that called for Lauth to transfer 25 percent of its interest in the project to Cook if the financing wasn't in place by April 15. Yelton said a small part of the financing was finished after that date.
Now, each of the companies has filed a lawsuit against the other. But because Orange County Circuit Judge Larry Blanton has sealed the documents -- after a request from the companies -- no one is sure quite what the legal dispute entails.
Posted by Marcia Oddi on June 25, 2006 08:24 AM
Posted to Indiana Courts