Landmark Northern Nevada casino emerges from Chapter 11


GARDNERVILLE — A landmark Gardnerville casino has emerged from Chapter 11 bankruptcy after approval of a reorganization plan.

Owner Hal Holder told Gardnerville’s Record-Courier that the plan presented to U.S. Bankruptcy Judge Bruce Beesely was approved after a hearing last month.

Sharkey’s filed for Chapter 11 bankruptcy in April to prevent a trustee’s sale after the company was accused of owing creditors $3.7 million.

Holder said no employee was released or had work hours reduced due to the filing, and all vendors, suppliers and creditors will be fully paid.

He said business continued to improve during the eight months it operated under Chapter 11 and capital improvements will move forward unabated.

Holder said he purchased Sharkey’s from Milos “Sharkey” Begovich on a handshake in January 2002 for $5 million.

 

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