If a building could have feelings and emotions, the Fountainbleau project in Las Vegas would be severely depressed. Fountainbleau Las Vegas lenders recently sued hundreds of contractors as lien disputes escalate over unpaid bills at the now bankrupt 3,815-room casino resort project.
There are 342 contractors and other mechanics lien holders, claiming to be owed a whopping $467 million for work at the stalled Las Vegas Strip development, that have been pressing for the right to take over the project for what they are owed.
Lenders, in response, charge that the liens filed by Fountainbleau subcontractors are inferior.
Meanwhile, iconic financier Carl Icahn is reportedly moving forward with his plans to buy the project during an auction this month, offering $156.2 million.