Xyience Update

The Las Vegas Review-Journal featured a pair of articles by John G. Edwards in recent days on the rise and fall of Xyience as well as the company's official sale. On April 1, the Judge overseeing the company's bankruptcy proceeding approved its sale to Manchester Consolidated for $15 million (mostly in the form of assumed debt).

The action looks set to continue in a potentially nasty civil suit filed by dissident shareholders against Xyience, its former directors, and companies controlled by the Fertittas. Unsecured creditors have also sued in federal court, asking that $14.8 million in assets be set aside from the Fertittas for the benefit of Xyience creditors.