U.S. Bankruptcy Judge Michael Kaplan ruled last week that the new owner of the former Revel Hotel and Casino, Polo North Country Club, Inc., must allow former Revel tenants, including RLT client IDEA Boardwalk, LLC, the operator of the highly successful HQ Nightclub andHQ Beachclub, access to the property so that they can “preserve physical assets, as well as investigate, plan, and take necessary steps to restart operations.”
Judge Kaplan’s decision also restrains Polo North from interfering with IDEA’s “possessory rights” under Section 365(h) of the Bankruptcy Code, including “access to utilities for operation, including electricity, hot and cold water, plumbing, gas, internet, cable and telephone service.”
If you have any questions regarding this matter, please do not hesitate to Barry J. Roy orJeffrey A. Cooper at (973) 597-9100.
