Interim financing OK’d for entity that was developing Newton’s estate

U.S. Bankruptcy Court Judge Bruce Markell on Monday approved a chief restructuring officer and interim financing for CSD LLC, the entity that was redeveloping entertainer Wayne Newton's estate into a theme park and museum.

The restructuring officer, managing partner Grant Lyon of Odyssey Capital in Phoenix, will keep operations going for the coming months but at a greatly reduced level from the past two years. The financing, a loan from an entity controlled by Texas businessman Lacy Harber, is for a maximum $2.5 million.

Harber has put about $59 million in to the project, buying Newton's Casa de Shenandoah estate, adjacent property and paying for renovations. But he has since decided to bring the project to a close.

CSD is aiming for a bankruptcy auction of the property early next year.

In addition, the two sides at least hinted at the possibility of trying to settle their differences instead of continuing with a grinding and expensive court battle. However, no mediation has been agreed to at this point.

Contact reporter Tim O'Reiley at
toreiley@reviewjournal.com or 702-387-5290.