VICKSBURG — The trustee in the bankruptcy liquidation case of a closed Vicksburg casino boat has requested that the vessel and some of its inventory be auctioned.
The Vicksburg Post reports creditors of the closed Grand Station Casino will go before a court-appointed trustee on April 5 as the case proceeds.
Trustee Stephen Smith continued a creditors’ meeting set Friday so attorneys for the closed casino’s parent company could provide more answers about the facility’s finances. The Grand Station closed March 28, 2012, and laid off 230 workers.
Smith has asked the court for permission to have the vessel auctioned on-site at 9 a.m. April 25 along with all moveable equipment, including furniture, office equipment, a lift, food and beverage items, bar equipment, china and two pickups owned by the casino, according to court documents.
In October, U.S. Bankruptcy Judge Neil P. Olack awarded the 36,000 square-foot casino to M Street Inc. after it bid $400,000 on the facility in a Chapter 11 proceeding. Less than two months later, the sale was converted to a Chapter 7 liquidation case when the group of Dallas-area investors and the casinos’ former owner — Delta Investments & Development LLC — failed to close the deal.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info