Caesars Entertainment Corp.’s operating unit has been battling in bankruptcy court for more than a year now, but an end to the Chapter 11 restructuring of the division may be in sight with the upcoming release of a court-appointed examiner’s report, writes the Wall Street Journal. Examiner Richard Davis, a restructuring lawyer who has spent the last year investigating a series of disputed deals between Caesars and its operating unit, plans to share his findings by the end of the month. Junior creditors allege the parent company had illegally shuffled assets between units prior to filing so they would be beyond their reach. Caesars’s parent has defended the deals as proper and necessary to shore up its operating unit. While not legally binding, the report is expected to outline potential legal claims related to the deals, which could help drive the negotiation process forward. Caesars Entertainment placed its operating unit under Chapter 11 bankruptcy protection back in January 2015 to cut $10 billion of debt. To read more, click here.
End to Caesars Bankruptcy in Sight