Gaming Legal News: January 25, 2012 • Volume 5, Number 3

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In this issue: Lac Du Flambeau: The Fallout Continues...; and Bank of America Wins Dispute With Jamestown S'Klallam.

Excerpt from 'Lac Du Flambeau...':

Readers of this publication are well-versed in the ongoing battle involving the default by the Lac du Flambeau tribe and its gaming operations on a $50 million bond offering. At the time of default in 2010, more than $46 million was outstanding, and the federal courts determined that the bondholders could not seek legal recourse because the transactions constituted a management agreement that is void because it was never approved by the Chairman of the National Indian Gaming Commission.

The sole bondholder is Saybrook Capital, a Santa Monica-based investment group.

Please see full publication below for more information.

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