Caesars Entertainment (CZR) Says Court Denied CEOC Motion to Extend an Injunction Enjoining Lawsuits
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Caesars Entertainment (Nasdaq: CZR) disclosed the following in an SEC filing on Monday:
On August 26, 2016, the United States Bankruptcy Court for the Northern District of Illinois (the “Bankruptcy Court”) denied the motion by Caesars Entertainment Operating Company, Inc. (“CEOC”) to extend an injunction enjoining the further prosecution of the lawsuits brought by BOKF, N.A., Wilmington Savings Fund Society, FSB, Relative Value-Long/Short Debt Portfolio, a Series of Underlying Funds Trust, Trilogy Portfolio Company, LLC, and Frederick Barton Danner, against Caesars Entertainment Corporation (“CEC”) in New York and Delaware (the “Guaranty Lawsuits”). Accordingly, the Guaranty Lawsuits will continue against CEC pursuant to their respective schedules. Arguments for summary judgment on the Guaranty Lawsuits brought in New York are scheduled for August 30, 2016. CEOC has filed a notice of appeal to the United States District Court for the Northern District of Illinois of the Bankruptcy Court’s denial of the motion.
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