August 10, 2016
In an effort to appease a restless creditor group, Caesars' bankrupt operating unit on Tuesday filed a complaint against its parent company and the private equity sponsors that bought the empire in 2008, arguing that stripping the subsidiary of its most valuable properties prior to the bankruptcy constituted fraud.
August 01, 2016
An Illinois federal judge said Monday that it wasn't within his power to sanction private equity firm Apollo for missing two deposition deadlines in the Caesars bankruptcy case, telling the creditors committee that requested the punishment that it should seek remedy in New York City, instead.
July 28, 2016
Apollo Global Management LLC on Thursday fired back at Caesars Entertainment Corp. creditors calling for sanctions against the private equity firm for missing deposition deadlines, telling an Illinois bankruptcy judge that the depositions will take place and that the motion for sanctions was a "colossal" waste of time.
July 27, 2016
A noteholders committee seeking the right to sue Caesars Entertainment Corp. on behalf of its insolvent operating unit on Tuesday moved to sanction Caesars' owner, Apollo Global Management LLC, for failing to produce two of its top partners for agreed-upon depositions.
July 20, 2016
An Illinois bankruptcy judge warned Jones Day on Wednesday that it was walking a fine line by trying to boot Kirkland & Ellis LLP as lead counsel for Caesars' underwater operating unit, threatening to impose sanctions in the likely event that Jones Day can't prove its adversary committed any wrongdoing.
July 14, 2016
Noteholders in Caesars Entertainment Corp.'s bankrupt operating unit urged an Illinois bankruptcy judge Wednesday to deny the company's bid to wipe out $1.85 billion in claims, saying the amount does not classify as unmatured interest.
July 11, 2016
Caesars Entertainment Corp. told investors Monday it is has inked an amended merger agreement with a previously spun-off subsidiary, a deal that will help prop up CEC's bankrupt operating unit by ensuring the parent has the funds to provide the unit a $4 billion payment.
July 07, 2016
The bankrupt operating unit of Caesars Entertainment Corp. on Wednesday urged an Illinois court to reject a noteholder committee's push to depose one of the company's Kirkland & Ellis LLP attorneys over claims that the firm should be disqualified, arguing the move would be "drastic" and is unnecessary.
June 30, 2016
Caesars Entertainment Operating Co. Inc. asked for permission from an Illinois bankruptcy judge Thursday to pay $300 million to bank lenders that provided four prepetition term loans totaling $5.35 billion.
June 22, 2016
An Illinois bankruptcy judge on Wednesday approved the outline for Caesars' Chapter 11 reorganization plan but told the indebted casino operator it would have to wait until January to see if the plan wins confirmation.