IN RE GREATE BAY HOTEL & CASINO, INC.

Nos. 98-10001/JHW, 98-10002, 98-10003.

251 B.R. 213 (2000)

In the MATTER OF GREATE BAY HOTEL & CASINO, INC.; GB Holdings, Inc., and GB Property Funding Corporation, Debtors.

United States Bankruptcy Court, D. New Jersey.

July 28, 2000.


Attorney(s) appearing for the Case

Edward S. Weisfelner, Andrew Dash, Rachel Myerson, Berlack, Israels & Liberman, New York City, for High River.

Michael Chertoff, James Brandt, A. Brent Truitt, Latham & Watkins, New York City, for Park Place Entertainment Corp.

Joseph Markowitz, Markowitz, Gravelle & Schwimmer, Lawrenceville, NJ, for Park Place Entertainment Corp.

Eric A. Browndorf, Cooper Perskie April Niedelman, Wagenheim & Levenson, Atlantic City, NJ, for Official Committee of Unsecured Creditors.

James Lawlor, Gibbons, Del Deo, Dolan, Griffinger & Vecchione, Newark, NJ, for Debtors.

Frederick H. Kraus, Greate Bay Hotel & Casino, Inc., Atlantic City, NJ, General Counsel for Debtors.

Stephen F. Gordon, Gordon & Wise, Boston, MA, for Las Vegas Sands, Inc.

Dov Kleiner, David Bryan, Wachtell, Lipton, Rosen & Katz, New York City, for Merrill Lynch Asset Management.

Jack Zackin, Sills, Cummis, Radin, Tischman, Epstein & Gross, Newark, NJ, Co-Counsel for Merrill Lynch Asset Management.

Arthur Abramowitz, Cozen & O'Connor, Cherry Hill, NJ, for Greate Bay Casino Corporation.

Robert D. Albergotti, Stacey Jerrigan, Haynes & Boone, Dallas, TX, Co-Counsel for Greate Bay Casino Corp. and Co-Counsel for Greate Bay Holdings LLC.

Jeffrey Kurtzman, Klehr, Harrison, Harvey, Branzburg & Ellers, Cherry Hill, NJ, for Greate Bay Holdings LLC.

Kevin Callahan, Richard Schepacarter, Office of United States Trustee, Newark, NJ, trustee.

Richard Heirsteiner, Palmer & Dodge, Boston, MA, for State Street Bank & Trust Company.

Richard M. Meth, Herrick, Feinstein, Princeton, NJ, for State Street Bank & Trust Company.

Mala Narayanan, Deputy Attorney General R.J., Trenton, NJ, for State of New Jersey, Division of Taxation.


AMENDED OPINION ON CONFIRMATION

JUDITH H. WIZMUR, Bankruptcy Judge.

Before the court for consideration are two competing plans of reorganization, the Park Place Entertainment Corporation plan and the High River plan, filed jointly with the Official Committee of Unsecured Creditors. For the reasons expressed herein, I conclude that both plans are confirmable, and that the High River plan will be confirmed.

FACTS AND PROCEDURAL HISTORY<...

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