Caesars gets go-ahead from court to expand examiner investigation

By Mark Reccek

Bethlehem, Pa., Aug. 26 – Caesars Entertainment Operating Co., Inc.’s (CEOC) request to expand the scope of its examiner’s investigation and amend the examiner’s order and discovery protocol were approved, according to an order issued Wednesday with the U.S. Bankruptcy Court for the Northern District of Illinois.

The amended order permits the examiner to investigate challenged and insider transactions, self-dealing or conflicts of interest, claims and defenses concerning potential fraudulent conveyance, breach of duty and related causes of action arising from the debt that was used to finance the company’s leveraged buyout.

According to the amended order, the examiner may also continue to issue subpoenas and document requests related to the investigation.

Caesars is a Las Vegas-based casino-entertainment company that filed for bankruptcy on Jan. 15, 2015. The Chapter 11 case is in the U.S. Bankruptcy Court for the District of Illinois under case number 15-01145.

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