The Nooksack Tribe of Washington is seeking to restructure its debt amid a lawsuit over a $26 million in casino loans.
The tribe owes Marshall Bank of Minnesota for construction and equipment at the Nooksack Northwood Casino, which opened in November 2007.
In the lawsuit, the bank claims the tribe is behind more than $1.2 million in interest and late fees on the loans.
"As with many businesses, our commercial operations have been impacted by the current recession, but we remain committed to our current casino operations," Chairman Narciso Cunanan said in a statement to The Bellingham Herald. "Due to declining revenues as a result of the recession, we are in negotiations with our lenders to restructure current debt.
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Bank sues Nooksack Tribe for defaulting on casino loan
(The Bellingham Herald 10/19)