The electricity provider for Atlantic City's Revel Casino Hotel has asked a U.S. bankruptcy court to liquidate the casino, saying the latest deal to sell the shuttered property is unfair, Reuters reported yesterday. ACR Energy Partners — which built and operates an power plant for Revel because the casino could not raise the money itself — said a deal to sell the property to Florida developer Glenn Straub for just $82 million would leave the utility with nothing. ACR said that it was owed more than $12 million before Revel filed for bankruptcy in June, and the casino has racked up $20 million more in unpaid bills since then. Revel's handling of the case has saddled the casino with "tens of millions of dollars" of unnecessary costs and a bankruptcy loan that will leave unpaid claims from ACR and others, the utility said late on Wednesday in a motion to convert Revel's case to a chapter 7 liquidation.
