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Wingate Airport South LLC, Owner of an Unfinished Wingate by Wyndham Hotel
in Las Vegas, Files for Bankruptcy

By Steve Green, Las Vegas SunMcClatchy-Tribune Regional News

Feb. 13, 2011--The owner of an unfinished Las Vegas hotel filed for bankruptcy reorganization Friday to restructure debt and liabilities of nearly $9.5 million.

The Chapter 11 filing was made by Wingate Airport South LLC, owner of an unfinished Wyndham hotel as well as land at 355 E. Warm Springs Road, west of Bermuda Road.

Las Vegas Convention and Visitors Authority records indicate this was designed as a 211-room Wingate by Wyndham hotel and that it was due to open this spring.

The developer's attorney couldn't immediately be reached for comment on whether the bankruptcy would affect continued work on the project, which was designed with 4,000 square feet of meeting space.

The bankruptcy filing listed creditors including Park Place Properties LLC with a claim of more than $6.6 million against the building, contractor Crowne Tradewinds LLC with a claim of more than $605,000 and Clark County, owed more than $43,000 for property taxes.

Assets of $12 million for Wingate Airport South LLC's real estate top the company's liabilities.

But records show the development and codefendants were hit with two lawsuits in 2009 in Clark County District Court over allegedly unpaid bills by contractors. Those suits have not been resolved.

Several mechanics' liens also have been filed against the project by contractors.

A Houston entity called Multibank 2009-1 CRE Venture LLC holds a $1.1 million deed against the property, the filing shows.


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Copyright (c) 2011, Las Vegas Sun

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