Analysis

How A Single Objection Could Thwart Caesars’ Ch. 11 Plan

Law360, Chicago (January 4, 2017, 7:23 PM EST) -- Though a bankrupt subsidiary of the Caesars casino empire could see its reorganization plan approved as early as this month, one major obstacle still lies in its path — the U.S. trustee, whose objection to the plan relies on the same Seventh Circuit case law that Caesars hopes will lift the threat of lawsuits against its nondebtor parent company.

U.S. Bankruptcy Judge A. Benjamin Goldgar again expressed his trepidation Wednesday about the trustee being the only objector to a Chapter 11 plan that would dig Caesars Entertainment Operating Co., or CEOC, out of bankruptcy after two years of litigation.

Alluding to...

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