The Daily Docket: Brookfield Wins Revel Auction With $110M Bid

Brookfield Asset Management won the auction for Atlantic City, N.J.’s bankrupt Revel Casino Hotel with a winning bid of $110 million following a marathon session that ended Wednesday morning, according to a person familiar with the deal. The Wall Street Journal has the Daily Bankruptcy Review article here.

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Trump Entertainment Resorts will go before a bankruptcy judge Thursday in a quick effort to get out of pension obligations it says will destroy its chances to save the Trump Taj Mahal. WSJ has the DBR article here.

Chemical company Reichhold Inc. filed for Chapter 11 bankruptcy protection Tuesday after securing a pledge from its bondholders to fund its operations and purchase its business, DBR (sub. req.) reports.

Stockton, Calif., is expecting a judge to rule on the city’s plan to leave bankruptcy Wednesday, the Associated Press reports.

Law firm Weil, Gotshal & Manges is downsizing its real-estate footprint in New York City, Law Blog reports.

The American Lawyer (sub. req.) picked the restructuring of Bahrain-based Arcapita Bank as top winner for its Global Legal Awards, noting the $1.6 billion restructuring “has a significance that extends far beyond simply returning value to its creditors.”

A judge approved the sale of four YMCA properties owned by the YMCA of Metropoitan Milwaukee, the Milwaukee Journal Sentinel reports.

Write to Melanie Cohen at [email protected]. Follow her on Twitter at @MelanieLisa.