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:

October 21, 2015
Caesars Nabs More Time To Proffer Ch. 11 Plan

Casino operator Caesars Entertainment Operating Co. Inc. has until March to lay out its Chapter 11 plan and until May to gather enough votes to make it a reality, winning an extension to its exclusive right to file a plan in Illinois bankruptcy court Wednesday.
October 20, 2015
Caesars Wants 7th Circ. To Save It From Creditor Suits

Caesars Entertainment Operating Co. is asking the Seventh Circuit to hurry up and block billion-dollar litigation against its parent company in New York and Delaware, telling the appellate court Monday that quick action is needed to stop junior creditors from getting their hands on money CEOC needs for a successful Chapter 11 reorganization.
October 09, 2015
Caesars Setback In Creditor Suits Throws Wrench Into Ch. 11

Caesars Entertainment Corp.'s bankrupt operating unit is facing long odds in its quest to shield its parent company from investor lawsuits after losing a second round in court this week, and experts say the sheer complexity of the casino operator's Chapter 11 makes it impossible to know how the litigation will disrupt the company's restructuring.
October 08, 2015
Caesars Can't Halt Creditor Suits Against Parent Company

Caesars Entertainment Operating Co. can't stop creditors in New York and Delaware from pursuing its parent company over unpaid debts, according to an order released by an Illinois federal judge Thursday, potentially leaving the entity to fend for itself in Chapter 11 on the same day it took a second shot at a restructuring plan.
September 28, 2015
Caesars Pushes Out $554M Fight With Wilmington

Caesars got another month Monday to argue against Wilmington Trust's request to protect $554 million in unsecured claims in Illinois bankruptcy court, while the creditor said it fears a new restructuring plan could harm its chances of recouping the funds.
September 08, 2015
Caesars Lands $3M Bid For Shuttered Miss. Casino

Caesars Entertainment Operating Co. told an Illinois bankruptcy court on Saturday that it has reached a deal in place to sell its shuttered Harrah's Tunica Casino in Mississippi for $3 million to TJM Properties Inc. after spending three years looking for a potential suitor.
September 01, 2015
Caesars Examiner Questions Duplicative, Pricey Firm Fees

Law firms' spring 2015 fees in the contentious bankruptcy of Caesars Entertainment Operating Co. raised serious concerns with an independent examiner, who said Monday the original bills of Kirkland & Ellis LLP, Jones Day, Winston & Strawn LLP, DLA Piper and others were often duplicative, overused the most expensive attorneys and included vague travel expenses.
August 25, 2015
Bankrupt Caesars Unit, Lenders Reach Deal On Debt Plan

After a contentious back and forth, Caesars Entertainment Corp. announced a deal between bankrupt Caesars Entertainment Operating Co. and its first-lien bank lenders, with the lenders set to receive nearly $62.5 million in cash upfront and a chunk of second-lien debt when the subsidiary is slated to emerge from bankruptcy next year.
August 19, 2015
Caesars Can't Broker A Deal In $462M Pension Row

Parties in a $462 million suit between Caesars Entertainment Corp. and an organization representing hotel and casino worker pension plans still haven't come to terms over whether CEC will have to pay into the plans while its largest subsidiary remains in bankruptcy, an Illinois federal judge heard Wednesday.
August 18, 2015
Bankrupt Caesars Unit, Lenders Fail To Agree On Debt Plan

Private equity-backed Caesars Entertainment Corp. said Monday that the latest restructuring talks with bank creditors of its bankrupt subsidiary Caesars Entertainment Operating Co. have collapsed after the debtor balked at a demand for a $125 million upfront payment, leaving a stumbling block in the Illinois bankruptcy case.

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