A federal judge OKd Riviera’s reorganization plan.

The bankruptcy reorganization plan for Las Vegas’ Riviera Hotel, which had the support of its chief creditor, the Public Employees Retirement System, was approved by Judge Clive Jones. Under the plan, 27% of the stock held by AITS Inc., the hotel’s parent company, will be canceled as well as the guarantee of $27 million worth of debts by majority stockholder Meshulam Riklis. The plan was opposed by 1,250 minority stockholders, whose stock will be worthless under the reorganization, but was supported by the retirement system, which will now eventually get $82 million owed it by the Riviera. The hotel filed for Chapter 11 in August, 1983, to avoid foreclosure by the retirement system.