Anthony H.N. Schnelling, the Chapter 11 trustee in Epic's bankruptcy, says the loan would help to stabilize and restructure the company's operations by providing funds for operating costs. Epic Resorts and several of its affiliates have been in Chapter 11 proceedings since July, 2001. Schnelling was appointed as Trustee in March, 2002.
Epic's properties in the West and Southwest include the Palm Springs Marquis, which features golfing, tennis, shopping, sightseeing and other activities, as well as the Desert Paradise Resort near the Strip in Las Vegas. The company also operates resorts in Hilton Head, S.C.; Scottsdale and Lake Havasu, Ariz.; and Daytona Beach, Fla.
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