Caesars, bondholders file dueling lawsuits

Posted: August 5, 2014 Posted by: Bloomberg
According to Bloomberg, Caesars Entertainment Corp. has filed a lawsuit against 30 bondholders. Caesars claims the group intends to force a default with “disruptive appearances before gaming regulators” and “a baseless default notice.” The company is attempting to restructure $12.7 billion in debt. Bondholders’ have filed suit against Caesars, claiming the company’s executives do not intend to preserve value or protect the interests of creditors. Negotiations with bondholders over Caesars’ debt are expected continue despite the lawsuits.

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