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Judge orders investigation in Caesars affiliate bankruptcy
March 12, 2015 / 9:02 PM / 3 years ago

Judge orders investigation in Caesars affiliate bankruptcy

March 12 (Reuters) - A U.S. bankruptcy judge on Thursday ordered an independent examiner to investigate transactions by the operating unit of Caesars Entertainment Corp, which filed for Chapter 11 earlier this year, according to court filings.

Creditors have alleged the parent company looted the operating unit in recent years for the benefit of its controlling private equity backers, Apollo Global Management and TPG Capital Management, leaving it unable to pay its debts. (Reporting by Tom Hals in Wilmington, Delaware; Editing by Steve Orlofsky)

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