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HCS previously reported that it has been in default of its outstanding secured notes under the terms of its related note indentures since March 2003 ameristar casino iowa. The Company entered into negotiations with an ad hoc committee of noteholders (the "Committee") regarding a possible restructuring of its outstanding indebtedness. In February 2004, HCS commenced a broad, competitive process to explore proposals for the sale or merger of the Company in order to reduce indebtedness, infuse new equity capital and maximize value for creditors. The Agreement is the result of an exhaustive process, conducted in collaboration with the Committee and supported by both the Company and the Committee. Libra Securities LLC acted as financial advisor to the Company in the sale process. Cool online casino guide with gaming news of ameristar casino iowa hot tips!
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