CityCenter, the troubled residential and casino development in Las Vegas, has hired a law firm, Dewey & LeBoeuf, to prepare for a potential bankruptcy filing, people briefed on the matter said on Thursday.
Its developers, MGM Mirage and Dubai World, will likely fail to make a $220 million debt payment due Friday, these people said. The sprawling and unfinished $8.6 billion project may file for bankruptcy within days, though an agreement could be reached before then.
Talks among the developers, MGM Mirage and Dubai World, and their lenders are already under way.
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