Santa Ysabel Band won't pursue appeal over casino bankruptcy
Friday, October 5, 2012
The Santa Ysabel Band of
Mission Indians in California won't pursue an appeal in its casino bankruptcy case, a spokesperson said.
In September, Judge Peter W. Bowie ruled that the Santa Ysabel Casino isn't eligible for federal bankruptcy protection.
The tribe now hopes to settle with its creditors -- more than $50 million is owed, according to court filings.
"We are hopeful it will lead us to what we've wanted all along: an amicable solution for all involved parties," spokesperson Chris Thomas told The North County Times.
The tribe's biggest creditor appears to be the Yavapai-Apache Nation of Arizona.
The Yavapai-Apaches loaned the Santa Ysabel Band $7 million to build the casino and later acquired $26 million in debt on behalf of the Santa Ysabel Band.
Get the Story:
Casino seeks settlement with creditors after judge blocks bankruptcy
(The North County Times 10/5)