Bank of America Sued by Fontainebleau Over $800 Million Funding | bloomberg.com

Fontainebleau Las Vegas LLC filed a $3 billion lawsuit against Bank of America Corp. and other lenders after they declined to provide the hotel operator with $800 million in funding. Fontainebleau, whose corporate parent owns a hotel on 22 acres of Miami Beach, Florida, also named JPMorgan Chase & Co., a unit of Deutsche Bank AG and seven other defendants in its complaint filed yesterday in Nevada state court, Fontainebleau said in an e-mailed statement. The banks pulled out of a written agreement to finance completion of Fontainebleau’s $2.4 billion casino-hotel being built in Las Vegas, according to the statement.