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Thursday, October 9, 2014

Boyd Student Maria Michelle Nisce Writes About Casino Bankruptcies

Boyd School of Law student Maria Michelle Nisce's article recently appeared in the American Bankruptcy Institute's Ethics and Professional Compensation newsletter.

The article is titled, "Casino Bankruptcies: Thinking Outside the 'Typical Chapter 11' Box."

In it, she writes, "Casino bankruptcies are unlike the typical chapter 11 proceedings because the courts must find a balance between the competing interests of federal bankruptcy laws and state gaming laws. The Bankruptcy Code ensures that creditors are paid and that the debtor remains in business so that it can continue contributing to the economy. The goal of the state gaming regulations include preventing unsuitable persons from having involvement in the gaming industry, establishing and maintaining responsible accounting procedures and financial practices, preventing fraudulent practices, and creating state and local sources of revenues. In exercising their overlapping powers to ensure that their goals are met, the bankruptcy courts and Gaming Control Board affect both the casino operations and the bankruptcy filing procedures."