A federal judge said yesterday that he will approve Revel AC Inc.’s liquidation plan after the former owner of the twice-bankrupt Atlantic City, N.J., casino reached several long-elusive settlements with its creditors, the Wall Street Journal reported today. Bankruptcy Judge Michael Kaplan said that the liquidation plan, which will bring Revel’s hard-fought chapter 11 case to a close, will start the process of rejuvenating Atlantic City. The plan divvies up proceeds from the sale of the 47-story boardwalk tower. Revel, which cost $2.4 billion to build, was sold to developer Glenn Straub for $82 million, leaving little behind to repay creditors.
