The Yavapai-Apache Nation of Arizona is opposing bankruptcy protections for the casino owned by the Santa Ysabel Band of
Mission Indians in California.
The Yavapai-Apache Nation lent $7 million to the Santa Ysabel Band and acquired $26 million in debt that was owed to J.P. Morgan Chase, The Wall Street Journal reports.
But now that the Santa Ysabel Casino filed for bankruptcy, recovering that investment might be difficult.
The Santa Ysabel Band owes money to 50 creditors.
Get the Story:
Indian Casino Seeks Bankruptcy Harbor
(The Wall Street Journal 8/7)
Related Stories:
Santa Ysabel Band looking to expand
casino after resolving debt (8/1)
California
Yavapai-Apache Nation fights Santa Ysabel casino bankruptcy
Tuesday, August 7, 2012
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