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 …
A federal agency has settled its $5 million civil lawsuit against Lincoln Paper and Tissue LLC by agreeing to seek restitution for a lesser amount when claims filed by unsecured creditors against the bankrupt mill’s estate are processed, officials said Monday. The Federal Energy Regulatory Commission agreed as part of the deal to place its claim for $379,016 in profits that FERC …
Hedge funds who own debt at Puerto Rico’s Government Development Bank are accusing the bank and the island’s governor of giving preferential treatment to local creditors under a law designed to restructure GDB’s debt, signaling a breakdown in a tentative restructuring …