Judge Criticizes Caesars Over Restructuring
The Wall Street Journal reported Caesars Entertainment may have violated federal law when it shuffled its casino assets, a federal judge said in a ruling that could complicate the casino company’s efforts to unload $18.4 billion in debts in a bankruptcy restructuring of its largest unit.
According to the Journal the ruling came in one of a number of lawsuits accusing Caesars of financial engineering designed to protect owners Apollo Global Management and TPG Capital, the buyout shops that own a controlling stake in the casino owner.
To read the entire Journal article, click here.
Previously on abfjournal: Judge Deals Caesars Bankruptcy Possible Fatal Blow, January 19, 2015