I do read the news...
From the Las Vegas Sun:
Today: April 25, 2001 at 10:48:53 PDT
National Airlines board member sued by casino partner
A subsidiary of Harrah's Entertainment Inc. filed a lawsuit in Clark County District Court accusing a board director of bankrupt National Airlines of breach of contract.
The suit, filed Monday by Harrah's Operating Co. Inc., seeks more than $4.8 million from Robert K. Moses, described in the filing as a director of and investor in Las Vegas-based National.
The suit says Harrah's, also an investor in National, Moses and National President Mike Conway signed a series of agreements outlining their respective participation in the airline's $8.6 million line of credit with Nevada State Bank.
When National filed for Chapter 11 bankruptcy protection Dec. 6, Moses and Conway held about 56 percent of the ownership of the airline and Harrah's held about 43 percent.
Shortly after the bankruptcy filing, the suit said, Conway and Harrah's signed amendments on participatory rights on the line of credit, but Moses refused to sign after they were orally agreed to by each party.
On Dec. 18 and 19, $8.6 million in sight drafts were delivered against the letter of credit and Harrah's paid the bills.
In the suit, Harrah's has asked Moses to pay his share of the $8.6 million liability, estimated at $4.8 million.
Moses could not be reached for comment.