Business Services Industry
Tommyknocker Casino receives payment from Country World Casinos
Business Wire, July 1, 1996
DENVER--(BUSINESS WIRE)--July 1, 1996--Tommyknocker Casino Corp. (TKCC), a wholly owned subsidiary of New Allied Development Corp. (NADC), whose bulletin board identification is NEAL, received a payment of $988,390.52 from Country World Casinos Inc. (CWCI).
The payment represents the undisputed portion of the amount due to satisfy the note and deed of trust on the Casino property in Black Hawk, Colo., sold by TKCC to CWCI in 1993.
The payment was made in connection with CWCI's closing on May 31, 1996 of a $5 million financing package previously announced by CWCI.
A hearing to resolve the disputed portion of the amount due has been scheduled for July 25, 1996. TKCC claims an additional $1,758,722.97 as the amount due as of June 27, 1996 plus interest at the rate of 18% per annum until paid. CWCI has segregated funds from the financing to pay the disputed amount.
These events transpired pursuant to a March 12, 1996 order of the Bankrupty Court in CWCI's bankruptcy proceeding under Chapter 11. The order authorized CWCI to obtain a financing package of $5 million secured by a first deed of trust on the casino property. The proceeds from the financing are to be used to pay TKCC's lien and all other liens in full as well as unsecured creditors of CWCI.
Country World Casinos seeks to construct a casino for limited-stakes gambling in Black Hawk, Colo.
New Allied Development Corp., headquartered in Denver, has one subsidiary, Tommyknocker Casino Corp.
CONTACT: New Allied Development Corp., Denver
Erica J. Hull, 303/778-8125
fax: 303/670-9390
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Content provided in partnership with
Most Recent Business Articles
- CUSTOMER WIN: BEA China Selects BMC Software to Deliver Business Service Management Platform
- SiBEAM Invigorates CE and PC Industries with Launch of Products and Partnerships to Fuel WirelessHD® Expansion
- Research and Markets: China Chocolate Market Overview 2009-2010: a Guide to Selling Chocolate in China with Full Forecasts to 2010 and Key Statistical Data
- Project Management Institute Global Accreditation Center for Project Management Education Programs Extends Agreement with China National Steering Committee of Professional Education of Masters of Engineering
- Research and Markets: China Sulfur Industry Report Reveals the Market Increased Greatly, Importing 9.72 Million Tons in the First Nine Months Alone in 2009
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- Using object-oriented analysis and design over traditional structured analysis and design
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Design a commission plan that drives sales - Sales Commissions
