Losing bidder seeks new Revel auction

The Florida developer who came up short in a bankruptcy court auction for the former Revel casino in Atlantic City wants the judge to invalidate the result and hold a new sale.Glenn Straub filed court papers Monday asking for a new auction, alleging the process was improper and unfair to him.

Revel’s attorneys selected Toronto-based Brookfield Asset Management’s $110 million bid for the casino resort, which cost $2.4 billion to build.

Straub complained about the all-night bidding session, which he said placed him in jeopardy from an undisclosed medical condition for which he had not brought his medicine to New York from Florida.

He called it “a life-and-death situation.”

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A bankruptcy court judge in Camden is expected to rule Tuesday on whether the sale to Brookfield should be approved.

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