Hotel Lender Gets $12.6M From Caesars Bankruptcy

Law360, New York (June 16, 2017, 6:36 PM EDT) -- Caesars Entertainment Operating Co. Inc. will pay a hotel lender $12.6 million to settle claims that it failed to uphold a room guarantee contract at a Louisiana hotel as part of Caesars' 2015 bankruptcy proceeding and $18 billion debt restructuring.

CEOC and Harrah’s Bossier City Investment Company LLC reached the deal with CCRE 2011-C2 East Texas Street LLC, the transferee of LAD Hotel Partners LLC's claims, over two claims of $21.8 million and $54.4 million against the casino for breach of a room-guarantee agreement, a minimum threshold...
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