Florida Gaming court appointed receiver seeks termination of duties

By Kali Hays

New York, May 6 - Florida Gaming Centers, Inc.'s court appointed receiver, David Jonas, asked to be relieved from his duties effective April 30, according to a Monday motion with the U.S. Bankruptcy Court for the Southern District of Florida.

Jonas' duties included maintaining surety bonds for the company in the amount of $100,000 and $3.47 million.

As reported, the company closed the sale of substantially all of its assets with Fronton Holdings, LLC April 30 in the amount of $155 million.

Fronton is an affiliate of ABC Funding, LLC, which was the previous stalking horse bidder for company assets, as well as the company's prepetition lender.

The asset sale being complete, Jonas said that the real and personal "receivership property" has also been sold to Fronton, meaning he no longer has any responsibilities in the company's Chapter 11 cases, according to the motion.

Jonas said he has been retained by Fronton on a temporary basis "to provide management services during the post-closing time period."

Based in Miami, Florida Gaming owns and operates gaming facilities. The company filed for bankruptcy on Aug. 19, 2013 in the U.S. Bankruptcy Court for the Southern District of Florida under Chapter 11 case number 13-29597.

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