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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. March 16, 2016

    Paul Weiss Missed Caesars Conflict, Examiner Says

    Paul Weiss Rifkind Wharton & Garrison LLP's dual representation of Caesars Entertainment's operating unit and its private equity owner Apollo Global Management LLC created a conflict of interest while the firm worked on a series of controversial transactions involving the casino operator, a bankruptcy examiner said Tuesday.

  2. March 16, 2016

    Caesars Faces Up To $5.1B In Creditor Claims, Examiner Says

    Creditors of Caesars Entertainment's bankrupt operating unit have actionable legal claims against the parent company and its private equity owners worth between $3.6 billion and $5.1 billion over a series of transactions that stripped value from the business, according to a Chapter 11 examiner.

  3. February 26, 2016

    Caesars Gets $7B Note Guarantee Suits Paused

    An Illinois bankruptcy judge granted a request by Caesars Entertainment on Friday to pause two suits by note trustees against Caesar's bankrupt operating unit, saying that suits seeking to recover on the $7.1 billion in notes could send Caesars into a bankruptcy of its own.

  4. February 17, 2016

    Caesars Granted More Time To Propose Ch. 11 Plan

    The bankrupt operating unit of Caesars Entertainment Corp will be given an additional four months in which to propose a Chapter 11 restructuring plan, with an Illinois federal judge noting Wednesday that the case was at a critical juncture but refusing to appoint a monitor to help hash out a resolution with dueling creditor groups.

  5. February 16, 2016

    Caesars Defends Bid To Keep Control Of Chapter 11

    The bankrupt operating unit of Caesars Entertainment doubled down Monday in Illinois court on its bid to keep control of its Chapter 11 case until the summer, saying it needs more time to rally support from its financial stakeholders for a restructuring plan.

  6. February 11, 2016

    Caesars' Bank Lenders Say Patience 'Wearing Thin'

    Lenders holding most of the first-lien debt in Caesars Entertainment's bankrupt operating unit said Wednesday in Illinois court that they will support the business's request for additional breathing room as it looks to restructure its debt, but indicated that negotiations with financial stakeholders have stalled and that their patience is "wearing thin."

  7. February 03, 2016

    Caesars Presses For Monitor To Clear Up Creditor Disputes

    The bankrupt operating unit of Caesars Entertainment Corp. pushed Wednesday for the appointment of a monitor to "bridge the gap" between the debtor and junior creditors dissatisfied with the company's recently proposed plan for reorganization.

  8. February 02, 2016

    Caesars Creditors Face Off In $11B Asset Dispute Trial

    Caesars creditors went to trial Tuesday over $11 billion in assets that First Lien banks and noteholders say they get first dibs on while certain unsecured noteholders argue that at least some of that money is theirs under documents signed following the $30 billion leveraged buyout of the company.

  9. January 20, 2016

    Caesars Judge Rips Kirkland Attys For Phone Use At Hearings

    An Illinois federal judge expressed concern Wednesday with the many Kirkland & Ellis LLP attorneys present at Caesars' bankruptcy hearings, saying he'd grant the firm's latest $13.7 million fee request even though he wasn't entirely sure that some of its attorneys weren't just passing the time on their smartphones.

  10. January 14, 2016

    Caesars Contests Release Of Report On $30B PE Buyout

    As an examiner appointed to investigate the $30 billion leveraged buyout of Caesars Entertainment Corp. prepares to unveil his findings, Caesars and the creditors of its bankrupt operating unit went head to head Wednesday over how much of the report should be released to the public.