By JOE CREWS (joe.crews@news-jrnl.com)
Business Writer - Daytona Beach News-Journal
September 1, 2001
Epic Resorts this week was granted a delay in paying its creditors in federal bankruptcy court in Wilmington, Del.
"The court denied our request for a dismissal (of the involuntary bankruptcy) but granted our request that
the creditors file a more definite statement," said Matthew Zaleski, an attorney representing Epic Resorts
LLC and Epic Capital Corp. in the bankruptcy proceedings.
The "more definite statement" of debts owed must be filed by a group of companies who issued $130 million
in bonds to Epic in July 1998. Epic was supposed to make interest payments in June and December of each year, but
missed the June 15 payment earlier this summer. The creditors forced Epic into an involuntary Chapter 7 bankruptcy
a month later, automatically freezing the company's bank accounts.