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NEW YORK -(Dow Jones)- MGM Mirage (MGM) said the lawsuit from its joint venture partner alleging the troubled casino operator breached the terms of their $8.6 billion CityCenter development in Las Vegas is baseless.
Dubai World said Monday its Infinity World Development Corp. unit is suing MGM for an undisclosed amount and asked the Delaware Chancery Court to free it from making future payments and fulfilling other obligations under its partnership deal with MGM Mirage.
"The lawsuit filed yesterday by a subsidiary of Dubai World is completely without merit. Dubai World is well aware of our written commitment to meet our funding obligations and that MGM MIRAGE has available cash to satisfy those obligations," said Alan Feldman, a MGM spokesman, in an emailed statement overnight.
"MGM MIRAGE is ready, willing and able to fund its share of the costs to complete CityCenter, including a required payment this week," the statement said.
http://www.advfn.com/news_MGM-Mirage-Dubai-World-Lawsuit-Without-Merit_37001818.html
