Caesars Entertainment (CZR), CEOC Extend Deadline to Reach Agreement on Documentation with First-Lien Noteholders
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U.S. watchdog raises concern over Caesars creditor deal
October 19, 2016 3:41 PM EDTBy Tracy Rucinski
CHICAGO (Reuters) - A lawyer for the U.S. government's bankruptcy watchdog raised concerns in court on Wednesday over Caesars Entertainment Corp's (NASDAQ: CZR) $5 billion creditor deal to push its main unit out of Chapter 11, even as hold-out creditors appeared closer to backing the agreement.
Caesars Entertainment Operating Co Inc (CEOC) filed for bankruptcy in January 2015 amid allegations by creditors that its parent had looted the unit of its best assets, leaving it with $18 billion of debt.
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