Premier Entertainment Biloxi granted court OK for plan of reorganization

By Reshmi Basu

New York, July 30 - Premier Entertainment Biloxi LLC obtained court approval for its second amended plan of reorganization, contingent upon some modifications to the plan, according to a Monday filing with the U.S. Bankruptcy Court for the Southern District of Mississippi.

According to the ruling, the company must make an additional payment of $2.96 million to fund the disputed liquidated damages escrow.

Premier, a Biloxi, Miss., resort operator, filed for bankruptcy on Sept. 19, 2006. Its Chapter 11 case number is 06-50975.

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