Friday, March 4, 2011 | 9:17 a.m.
Indian gaming executive R. Shawn Ellis of Las Vegas and one of his companies filed for Chapter 7 bankruptcy liquidation Thursday.
The filings in Las Vegas by Ellis personally, as well as his company Ellis Partners LLC, were preceded by the bankruptcies in November and December of Ellis Las Vegas LLC and Ellis Gaming & Entertainment LLC.
Ellis, in his personal filing, listed only basic financial information: Assets ranging from $100,000 to $500,000 against liabilities ranging from $10 million to $50 million.
Ellis Partners, at 9120 W. Post Road Suite 777 in Las Vegas, listed assets ranging from zero to $50,000 against liabilities of $1 million to $10 million.
Numerous agencies, lenders, vendors and investors are affected by the new bankruptcy filings including the Nevada Employment Security Division, the Nevada Department of Taxation, the IRS, the Clark County Treasurer, Indian tribe the Elk Valley Rancheria in Crescent City, Calif.; Ally Financial, American Express, Bank of America, Chase Auto, Citibank, First Security Bank of Nevada, First USA Bank, Ford Motor Credit, Craig Potts and his SSB Gaming company; Roland V. Sturm and his Sturm Gaming LLC company; the state of Minnesota/Hennepin County, Vision Building Systems, Wells Fargo, Wilshire Credit Corp. and a Las Vegas entity called Seminole Wind LLC.
The bankruptcies are related to abandoned plans for a gambling resort on the Las Vegas Strip and litigation between Ellis and the Elk Valley Rancheria.
Ellis formerly managed the Elk Valley tribe's casino in California near the Oregon border on the Pacific coast.
Elk Valley Rancheria sued Ellis in 2008, saying it had loaned him $480,000 for development of the "Ellis Las Vegas" casino resort on the Strip but that Ellis failed to pay back the money. Ellis maintains he doesn't need to pay back the money because the tribe converted the loan into equity in an Ellis company.
That lawsuit remains active in federal court in Las Vegas.
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