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The Fontaine-Bust Update: Lawsuit Hearing Could Happen Next Week

The Fontainbleau, June 28, 2009.

There’s not much to tell as far as when or if the embattled Fontainebleau Las Vegas will ever open its doors. After all, in the last month or so, corporate employees have been laid off, its CEO flew the coop and it filed for bankruptcy protection. Call it Fontaine-bust instead.

Next week could bring some good news for the remaining Fontainebleau folks, however. That’s when they’re hoping to get a court date set for their lawsuit against their former lenders. Seems they (the lenders) nixed hundreds of millions of dollars in financing and, essentially, forced Fontainebleau into bankruptcy which pulled the plug on the resort’s progress.

There’s a bunch of legal mumbo jumbo for the lawyers on both sides to toss back and forth in the meantime, and there’s no saying the Florida judge who’s presiding over this kerfuffle will actually set the court date next week or sometime thereafter.

But we certainly have every reason to hope the matter gets resolved in Fontainebleau’s favor. It’s depressing to think that massive, multi-billion-dollar tower is just sitting there, vacant – especially when it stands to be such a showplace when it’s done. We’re keeping our fingers crossed and knocking wood for you, Fontainebleau. Courage.