Lake Las Vegas emerged from bankruptcy in July 2010 with a plan that took nearly two years to complete. All existing debt was wiped away and the development has $30 million in hand to complete several of the unfinished infrastructure projects. The Lake Las Vegas bankruptcy creditors, not Lake Las Vegas development themselves, have filed a lawsuit against the former insiders (Bass Brothers, TransContinental, etc. ). The creditors' theory is that the $500 million equity loan the former insiders took against the property caused the demise of Lake Las Vegas. The creditors are hoping to recoup money from the former insiders. In a related action, resort property owners are suing lender Credit Suisse as part of a multibillion-dollar lawsuit led by bankrupt Yellowstone Club founder Timothy Blixseth and his son Beau Blixseth who claim the Lake Las Vegas Joint Venture bankruptcy was caused by a "loan to own" scheme between the bank and resort developers.