Second Las Vegas Monorail Bankruptcy Proceedings Successful

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The Las Vegas Monorail Co. which commenced its second Chapter 11 case on September 8, 2020, obtained bankruptcy court approval of its liquidation plan on January 21, 2021. This follows last month’s $24 million sale of the transportation system to the Las Vegas Convention and Visitors Authority which intends to commence operations of the monorail system later this year.

The plan, approved Monday by Judge Natalie M. Cox of the U.S. Bankruptcy Court for the District of Nevada, will provide for payment to unsecured creditors of approximately 90% of their allowed claims. Gerald M. Gordon and Mark Weisenmiller represented the Las Vegas Monorail Co.