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:

June 16, 2016
Confirmation Battle Looms As Caesars Gets Ultimatum

Although an Illinois bankruptcy judge fired warning shots Wednesday in a long-simmering dispute between Caesars' underwater operating unit and a militant group of creditors, the judge's insistence that the parties talk to one another may not be enough to prevent a hostile Chapter 11 plan confirmation hearing in November, experts say.
June 15, 2016
Caesars Gets Short Breather From Creditors' Quest For $11B

Caesars Entertainment Corp. won a temporary reprieve from a handful of creditor lawsuits Wednesday when an Illinois bankruptcy judge granted the casino giant a 74-day stay while its bankrupt operating unit negotiates a solution with the unhappy creditors.
June 13, 2016
Caesars Pleads For More Time In $11B Creditor Dispute

Underwater casino giant Caesars Entertainment Operating Co. warned an Illinois bankruptcy judge Monday that the "sword of Damocles" will fall if he doesn't stop creditors from pursuing an $11 billion judgment against Caesars' parent, with the subsidiary saying it needs that money to dig its way out of bankruptcy.
June 08, 2016
Kirkland Atty Testifies As Caesars Calls For Litigation Hold

Caesars' bankrupt operating unit called a Kirkland & Ellis LLP attorney to the stand Wednesday in its latest bid to put the brakes on a potential $7 billion judgment against its parent casino company that the subsidiary says threatens to undermine its own reorganization plan.
June 06, 2016
Caesars Says Creditors Have Enough Plan Info To Move Ahead

The debt-laden operating unit of Caesars Entertainment Corp. is urging an Illinois bankruptcy judge to overrule creditor objections to its latest disclosure statement, saying creditors have enough information to decide whether they want to approve the reorganization plan outlined by the document.
June 03, 2016
Caesars Seeks To Convert Units To LLCs To Ease Tax Burden

Casino giant Caesars Entertainment Operating Company has asked a bankruptcy court for permission to convert four of its subsidiaries from corporations to limited liability companies as part of a tax-favorable restructuring plan that would create a new real estate investment trust to run the firm's hotels and resorts.
June 01, 2016
Trustee, Others Say Caesars' Ch. 11 Disclosure Still Lacking

A U.S. bankruptcy watchdog was among 13 parties arguing against the most recent restructuring blueprint submitted by Caesars Entertainment's bankrupt operating unit, telling an Illinois judge Tuesday that the proposal contains inaccurate and inadequate information.
May 18, 2016
New Caesars Ch. 11 Plan Could Still Draw Objections

A new disclosure plan filed Wednesday by the operating arm of Caesars Entertainment Corp. will see the parent company contribute $4 billion to pull its subsidiary out of bankruptcy, but junior creditors who've objected to past plans say they have not had the chance to evaluate this latest proposal.
May 18, 2016
Trustee, Others Object To Caesars' Ch. 11 Disclosure

A U.S. bankruptcy watchdog, a state tax authority and other parties filed objections Tuesday in Illinois court to the restructuring blueprint submitted by Caesars Entertainment's bankrupt operating unit, saying the flawed proposal is predicated on a massive settlement that has yet to materialize between the debtor and its parent company.
May 16, 2016
Winston & Strawn's $14.2M Fees Bid OK'd In Caesars Ch. 11

Winston & Strawn LLP received approval Monday from an Illinois bankruptcy judge for its $14.2 million fee request for its work in a sprawling Chapter 11 case involving Caesars Entertainment Operating Company Inc., as did several other large-name firms involved in the proceeding.

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