Casino Investors, Noteholders Agree To Joint IPO Probe

Law360 (August 15, 2019, 10:14 PM EDT) -- After some prodding by a New York bankruptcy judge, a bankrupt hedge fund and a group of its bondholders Thursday agreed to jointly oversee an investigation into the initial public offering that allegedly sent the fund into Chapter 11.

At a hearing before U.S. Bankruptcy Court Judge Robert Drain, Silver Point Capital-owned New Cotai Holdings and an ad hoc group of the company’s bondholders agreed that a bondholder representative would join a New Cotai-appointed independent director in overseeing a probe into whether New Cotai had any claims against Silver Point for its actions regarding the IPO.

New Cotai and several related...

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