UAI - Unistar - BB reverse merger that moved to AMEX Message Board

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Non-Tech : UAI - Unistar - BB reverse merger that moved to AMEX

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To: Harpo who wrote (8)	7/20/1999 4:26:00 PM
From: Q.	of 133

May 8, 1985, Wednesday, BC cycle SECTION: Regional News DISTRIBUTION: Arizona-Nevada LENGTH: 140 words DATELINE: RENO, Nev., BODY: Businessman Marc Sparks of Dallas, Texas., failed Tuesday to post the required $1.4 million deposit with the bankruptcy court to take over the Cal-Neva Lodge at Lake Tahoe. Sparks submitted a letter of credit which was rejected by the court which said it should have been a cashier's check. Sparks had submitted the winning bid last week of $14-million for the hotel-casino and had to post the deposit for $1.4 million by the deadline Tuesday. With Sparks out of the picture, FMR Capital of Phoenix, which submitted the second best bid, was given a chance to take over the business. FMR now has seven days to put up a deposit of $1.4 million and then pay off the rest in 30 days. Steven Chanen, a Phoenix attorney who is president of FMR said he did not see any problem with coming up with the money or meeting the deadlines. LANGUAGE: ENGLISH

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