David Tepper is the odds-on favorite to win an $11 billion lawsuit against Caesars Entertainment. That’s according to the mediator trying to hammer out a deal between the casino giant and holdout creditors in the contentious bankruptcy of Caesars’ biggest operating unit. Creditors, including Tepper’s Appaloosa Management, have sued Caesars in New York, accusing the non-bankrupt parent of …
Tracy Rucinski and Tom Hals In a case full of twists, Caesars Entertainment Corp (CZR.O) late on Monday won a two-week extension on a shield from lawsuits worth billions of dollars just days after a different U.S. court allowed those cases to proceed. Investors are suing Caesars for reneging on its guaranty of bonds issued by its operating unit, Caesars Entertainment Operating Co Inc, or CEOC, …
A federal judge on Tuesday gave Caesars Entertainment a five-week shield from $13 billion in lawsuits, capping a week of frantic court hearings as the casino group struggles to salvage a high-stakes debt-cutting plan for its bankrupt subsidiary. Judge Robert Gettleman said at an emergency court hearing in Chicago that he will decide on Oct. 5 whether he should overturn a U.S. Bankruptcy Court …