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Is the Fontainebleau Hotel Going Belly Up?

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The Fontainebleau Hotel may be going bankrupt, according to a confidential memo from their insurance companythat was leaked to Lesley Abravanel's Miami Herald blog. The exact wording has to do with being stopped from closing or processing a title insurance transaction without prior written approval, or something, but the Herald's legal people say it sounds like bankruptcy. This is all despite recent reports the hotel was making $9 a second.

Do you have an update to this story? Has Ben Novack, the hotelier scoundrel that built the Fontainebleau, risen from the dead to claim his palace? Tip us off.
· Singing the Bleus [Miami Herald]
· Fontainebleau Leaving Financial Woes Behind [Miami Herald]

Fontainebleau Hotel

4441 Collins Ave, Miami Beach, FL 33140