From the News of the North via Pechanga:

A Mississippi resort-casino venture has turned out to be a bad bet for the Lac du Flambeau Indian Tribe, which as a minority partner sunk an estimated $25 million on the Grand Soleil project in Natchez, only to see it headed for the auction block in three weeks.

According to a trustee’s notice of foreclosure and sale, parts of the Grand Soleil Casino Resort property, including three separate tracts, will be sold to the highest bidder on Feb. 12. at the Adams County (Miss.) courthouse. The notice was published this week in the Natchez Democrat newspaper. click here to read published notice

Two previous attempts to initiate the foreclosure process by United Mississippi Bank and other lenders and creditors were averted by deals struck last year. United Mississippi Bank designated Natchez lawyer Bruce M. Kuehnle, Jr. as its trustee in the latest foreclosure proceedings, according to the legal notice. Continue reading →