Imploded: American West Development., Inc., of Las Vegas

``American West said the bankruptcy was filed as part of a prepackaged reorganization. In such cases, lenders realize some losses, though the magnitude of the losses in the American West case wasn't immediately disclosed... It looks like the banks have realized it is better for them to just take the hit on this one, possibly indicative of the current trend. The numbers above imply an approximately 26 cents on the dollar recovery for American West's creditors, which in the case of Wells Fargo would imply a $32.5 million loss on $44.4 million, and in the case of Bank of America, a $17.95 loss on $24.5 million.''