Fred Kleisner - Independent Director - Athora Holding Ltd

Sources doubt the casino giant will follow its operating subsidiary into Chapter 11 because such a move would undermine its financial sponsors, Apollo Global Management and TPG Capital. by Lisa Allen. Caesars Entertainment Corp. hired a chief restructuring officer and warned that it will likely file for Chapter 11 if its operating unit’s bankruptcy proceedings drag on too long or turn out Caesars Entertainment Corp., the casino operator struggling under a mountain of debt, appointed a chief restructuring officer at the request of its independent directors to aid in negotiations LAS VEGAS, May 6, 2016 /PRNewswire/ -- Caesars Entertainment Corporation (Nasdaq: CZR) ("Caesars Entertainment" or "the Company") today announced that its Board has appointed the Honorable Robert E. Gerber as Chief Restructuring Officer. The appointment came at the recommendation of Caesars Entertainment's independent director committee, the Strategic Alternatives Committee. "Caesars Entertainment has offered substantial value to CEOC in an effort to end the protracted and expensive bankruptcy proceedings of CEOC," said Fred Kleisner, Chairman of the Strategic Alternatives Committee. "Despite a proposal that would provide CEOC and its creditors with value that Caesars Entertainment believes would be more than sufficient to address the findings of the Examiner, as Fred Kleisner | Bainbridge Island, Washington | Independent Director at Athora Holding Ltd. | 500+ connections | View Fred's homepage, profile, activity, articles Caesars Names Restructuring Chief as Legal Bills Mount. Bloomberg the Company & Its Products The Quint. Bloomberg. Bloomberg | Quint is a multiplatform, Indian business and financial news company. We combine Bloomberg’s global leadership in business and financial news and data, with Quintillion Media’s deep expertise in the Indian market and digital news delivery, to provide high quality Caesars board member Fred Kleisner, who chairs the parent company’s negotiating committee, issued a statement indicating the company remains far from a settlement agreement with its creditors on a deal that would restructure CEOC’s $18 billion in debt. An independent examiner last month sided with the lower-level creditors in assailing “Despite a proposal that would provide CEOC and its

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