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Mealeys

MLex

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:

  1. January 04, 2017

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

    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.

  2. December 23, 2016

    Trustee Goes Whole Hog With Caesars Plan Objection

    In a lengthy diatribe, the U.S. trustee in Chicago highlighted its reasons for opposing the Chapter 11 confirmation plan of Caesars’ casino operating subsidiary, saying the plan should not be confirmed while the nondebtor parent and its private equity sponsors are being promised “blanket immunity” from actions undertaken before the bankruptcy.

  3. December 19, 2016

    Caesars Lenders Call Reorganization Plan 'Unacceptable'

    Lenders for Caesars' bankrupt operating arm have given notice that the current terms of a reorganization plan scheduled for a confirmation hearing in January are "unacceptable" and are threatening to pull their support for the deal as early as this week, according to information provided to Caesars shareholders Monday.

  4. December 14, 2016

    Creditor Dispute Could Delay Caesars Reorganization

    A January confirmation hearing for Caesars Entertainment Operating Co. may no longer be in the cards after a major creditor group informed an Illinois bankruptcy judge Wednesday that it will likely pull its support for the plan over an inter-creditor dispute.

  5. December 06, 2016

    Caesars Judge Debates Trustee's Stand-Alone Objection

    An Illinois bankruptcy judge and an attorney with the U.S. Trustee's office sparred over an objection to Caesars' Chapter 11 reorganization plan Tuesday, with the judge expressing his disbelief that the trustee would oppose a plan the debtor believes will receive the full backing of its creditors.

  6. October 31, 2016

    Caesars Deal To Pay Creditor's Attys Blocked By Judge

    An Illinois federal judge on Monday ruled that Caesars Entertainment Operating Co. could not pay the $11.5 million in attorneys' fees racked up by Wilmington Trust NA as part of the company's Chapter 11 case, saying that a bankruptcy code provision cited by the parties did not cover the fee arrangement.

  7. October 19, 2016

    Caesars Strikes Tentative Deal With Holdout Creditor

    Caesars Entertainment Operating Co. and a creditor threatening to throw a wrench into the casino company's Chapter 11 bankruptcy plan announced a tentative agreement in Illinois federal court Wednesday that would result in the creditor abandoning its opposition. 

  8. October 13, 2016

    Louisiana Defends $41M Tax Calculation Against Caesars

    Louisiana's tax regulator on Wednesday defended its attempt to collect $41 million in unpaid taxes from the bankrupt operating unit of Caesars Entertainment, telling an Illinois judge that the tax liability is based on an accurate analysis of how money flows between the casino company's subsidiaries.

  9. October 05, 2016

    Caesars Given Litigation Breather Until Confirmation

    An Illinois bankruptcy judge Wednesday blocked a holdout creditor from pressing a legal challenge against Caesars Entertainment Corp. while the company's operating unit winds its way out of bankruptcy, saying the relatively small claim the creditor holds isn't worth putting a newly agreed upon reorganization plan in jeopardy.

  10. September 21, 2016

    Caesars Gives Creditors Friday Deadline To Grab Extra $1B

    Caesars Entertainment Corp. has promised an additional $1.2 billion contribution to help its underwater operating unit out of bankruptcy on top of the $4 billion it already pledged, but competing creditor groups will have to agree to the deal by Friday or the debtor will be forced back to the drawing board on its Chapter 11 reorganization, an Illinois federal judge was told Wednesday.