Anthony H.N. Schnelling, the Chapter 11 Trustee of Epic Resorts LLC, said the loan, which is subject to the approval of the US Bankruptcy Court, will help stabilize and restructure the company's operations.
The Scottsdale resort, located at 16858 North Perimeter Dr., features oversized suites with golf course or mountain views, heated swimming pool and spa and fitness center.
The company also operates a five-star, all-suite condominium resort and golf course on 110 acres of waterfront property overlooking Lake Havasu and its famed London Bridge. The resort, located at 1477 Queens Bay, features three swimming pools, specialty shops, convention facilities, boat slips and other amenities. Epic Resorts and several of its affiliates have been in Chapter 11 proceedings since July 2001.
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