Irell & Manella Llp, Counsel to Windsor Woodmont Black Hawk Resort Corporation, Announces that the Debtors Plan of Reorganization has been Confirmed

Irell & Manella LLP, a full service law firm with offices in Los Angeles and Newport Beach, today announced that the chapter 11 Plan proposed by Windsor Woodmont Black Hawk Resort Corporation (the Debtor"), has been confirmed by the United States Bankruptcy Court for the District of Colorado. The Debtor is the developer and owner of the Mountain High Casino, the largest casino in Black Hawk, Colorado (the Casino").

Newport Beach, CA (PRWEB) December 24, 2004 -- The Plan provides for the sale of substantially all of the Debtors assets, including the Casino, to Ameristar Casinos, Inc. (or its assignee) for a purchase price of $117 million in cash, $2.5 million in Ameristar stock and the assumption of certain liabilities. The Plan incorporates and implements various settlements reached between the Debtor and its creditor constituencies and the payment of creditors claims in accordance with the terms of those settlements. It is anticipated that the First Mortgage Noteholders recovery will exceed its prepetition claim in the amount of $107,400,000 and that unsecured creditors will received approximately 86% of their prepetition claims. The Plan also provides for the distribution of $2.5 million in Ameristar stock to the holders of the Debtors preferred stock. The Plan received unanimous support from the Debtors creditors and preferred shareholders.

William N. Lobel, Tavi C. Flanagan, Jeffrey M. Reisner and Albert Choi, attorneys in Irell & Manella LLPs Newport Beach-based bankruptcy practice, represented the Debtor in its chapter 11 case. Alvarez & Marsal and FTI Consulting were financial advisors to the Debtor. The Ad Hoc Committee of First Mortgage Noteholders was represented by Klee, Tuchin, Bogdanoff & Stern LLP, as counsel, and CIBC World Markets, as financial advisors. The Creditors Committee was represented by Pachulski, Stang, Ziehl, Young, Jones & Weintraub P.C.

Irell & Manella LLPs insolvency department represents debtors, creditors, creditors committees, and bankruptcy trustees in legal cases throughout the United States.

One of the leading law firms in the United States, Irell & Manella LLP was founded in Los Angeles in 1941. Dedicated to excellence, the firm is a full-service commercial law partnership with a professional legal staff now comprising more than 240 attorneys, 88 of whom are partners. For more information on Irell & Manellas full range of professional legal services, visit the firm online at www.irell.com.

Press Contact:

Shannon Hartigan / Liam Collopy

LCO- Levine Communications Office

310-300-0950 ex. 234 / 232

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