A bank wants a receiver to operate the Dunes.
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Valley Bank of Nevada, which manages much of the Dunes Hotel’s estimated $75-million debt, has asked a state court to appoint a receiver to operate the Las Vegas hotel, which failed to make a mortgage payment earlier this month. The move by the bank, which is also owed $15 million by the hotel, triggered a demand by the Southern Nevada Culinary and Bartenders Pension Fund for immediate payment of $2 million owed to the union.
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