Firm is facing USD 7.7B in claims in New York and USD 3.7B in Delaware
Caesars amends restructuring agreement with senior debtors
Caesars Entertainment Corp said on Tuesday it had agreed with its senior creditors to amend a restructuring agreement that would allow it to go through with a bankruptcy exit plan for its operating unit.
2016-06-22
Reading time 23 seg
Caesars Entertainment Corp said on Tuesday it had agreed with its senior creditors to amend a restructuring agreement that would allow it to go through with a bankruptcy exit plan for its operating unit.
The first-lien lenders were among creditors who had refused to support the operating unit's plan to exit bankruptcy.
Debtors agreed to obtain an order from the U.S. Bankruptcy Court authorizing payment of $300 million in cash as soon as practicable to holders of first-lien bank claims.
Caesars is facing $7.7 billion in claims in New York and $3.7 billion in Delaware from bondholder lawsuits.
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