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Mealeys

MLex

Caesars Entertainment Operating Company, Inc.

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Case overview

Case Number:

1:15-bk-01145

Court:

Illinois Northern

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

  1. September 20, 2016

    Bankrupt Caesars Unit Fights $41M La. Tax Liability

    Caesars' bankrupt operating unit petitioned an Illinois federal court Monday to determine the company's tax liabilities to Louisiana, saying that the state incorrectly characterized equity as debt and is now demanding nearly $41 million in unpaid taxes when a tax refund of $14 million is due.

  2. September 19, 2016

    Caesars Board Members Fight Financial Doc Disclosure

    Board members of bankrupt Caesars Entertainment Operating Co. want a contentious group of junior noteholders blocked from obtaining "extremely sensitive" financial information while they appeal an Illinois bankruptcy judge's order that they hand over the tax and bank records.

  3. September 09, 2016

    Caesars Mediator Has Harsh Parting Words For Judge

    The retired judge tapped to lead settlement negotiations between Caesars' underwater operating unit and the company's multiple creditor groups stepped down on Friday on the belief that the main bankruptcy judge's "atypical" views of the mediation process were hindering his progress.

  4. September 07, 2016

    Caesars Challenges Jr. Noteholders' $5.5B Recovery Strategy

    Junior noteholders of Caesars Entertainment Operating Co. Inc. cannot dip into assets held by the casino operating company's many bankrupt subsidiaries to recover on $5.5 billion in notes, the lead debtor told an Illinois bankruptcy judge on Wednesday.

  5. September 02, 2016

    Caesars Noteholders Demand Paul Weiss Docs

    A noteholder committee intent on challenging the proposed restructuring of Caesars Entertainment's insolvent operating unit demanded Thursday in Illinois bankruptcy court that Paul Weiss Rifkind Wharton & Garrison LLP turn over documents the firm says are shielded by attorney-client privilege but that the committee claims will reveal the mechanization of several controversial transactions that loaded the business with debt.

  6. August 30, 2016

    Caesars Gets Further Reprieve As Litigation Hold Extended

    Over the objections of suing creditors Tuesday, an Illinois federal judge further extended the stay imposed on several billion-dollar suits against Caesars Entertainment Corp. while the casino giant's bankrupt subsidiary appeals a decision that would lift the stay.

  7. August 26, 2016

    Judge Lifts The Brakes On Caesars Creditor Suits

    An Illinois bankruptcy judge on Friday rejected pleas by Caesars' indebted operating unit to protect the casino behemoth from four creditor lawsuits that have been on hold for months, saying that he wouldn't extend the stay beyond its Aug. 29 cutoff date. 

  8. August 25, 2016

    Caesars Makes Final Plea To Protect $4B 'Linchpin'

    Caesars Entertainment Operating Co. denied at the close of a hearing Thursday that a request to shield its parent company from creditor lawsuits was motivated by anything other than a desire to protect a $4 billion contribution that is the "linchpin" to the debtor's Chapter 11 reorganization plan.

  9. August 23, 2016

    Caesars Back In Bankruptcy Court To Hold Off Creditor Suits

    For the third time in a year, Caesars Entertainment Operating Co. Inc. appeared in bankruptcy court to ask that creditors be stopped from pursuing an $11 billion judgment against the casino operator's nondebtor parent, saying Tuesday that an adverse ruling could bring the whole empire crashing down.

  10. August 11, 2016

    Trustee Objects To $11.5M Fee Bid In Caesars Bankruptcy

    The U.S. trustee overseeing the bankruptcy of Caesars' operating unit took issue with the company's attempts to pay more than $11.5 million in attorneys' fees to a member of the unsecured creditors committee, arguing Wednesday that such a payment would fly in the face of bankruptcy law.