Bank of America Corp., agent for a loan to a failed casino development by Fontainebleau Las Vegas LLC, was sent back to federal district court to resolve claims that it acted negligently under the loan agreement.
Bank of America was responsible for paying lenders’ money to Fontainebleau for a project at the north end of the Las Vegas Strip with an initial budget of $2.9 billion. In its decision Friday, the U.S. Court of Appeals for the Eleventh Circuit in Atlanta examined whether the bank was right to disburse some funds after the financial crisis began in 2008.
