Attorney Kavita Gupta has been appointed to serve as the Chapter 11 Trustee overseeing the bankruptcy sale of 38.56 acres of privately-owned real property on the world-famous Las Vegas Strip, according to a press release. The bankruptcy court has approved bid procedures setting a bid deadline of April 30, 2020 and May 19, 2020 auction for qualified bidders. The 38.56-acre development site includes 750 feet of frontage on Las Vegas Boulevard directly across from Mandalay Bay and is within walking distance from the new Las Vegas Raiders stadium. On April 30, 2018, Desert Land, LLC (Case No. 18-12454), Desert Oasis Apartments, LLC (Case No. 18-12456) and Desert Oasis Investments, LLC (Case No. 18-12457) filed chapter 11 bankruptcy petitions in the District of Nevada. As the court appointed Chapter 11 Trustee, Kavita Gupta is vested with the exclusive right to oversee the sale process and to manage the debtors' property and business activities. In December 2019, Keen-Summit Capital Partners LLC and Colliers International were engaged by the Trustee as exclusive real estate agents for this offering.
