Judge Kevin Gross Says He Would Have Sent Caesars Bankruptcy to Vegas

Even though Caesars Entertainment Operating Co. engaged in pre-bankruptcy conduct the Delaware bankruptcy judge called “suspect” on its face, he nevertheless decided the Chapter 11 reorganization should be in Chicago because the casino owner’s choice of Illinois is “entitled to just enough deference” (In re Caesars Entm’t Operating Co., Bankr. D. Del., 15-10047-KG, 2/2/15).

The Caesars bankruptcy began on Jan. 12 when second-lien bondholders filed an involuntary Chapter 11 petition in Wilmington, Del. 27 BBLR 87, 1/15/15. The company filed a voluntary petition for itself and dozens of affiliates three days later in Chicago 27 BBLR 119, 1/22/15. Caesars then asked ...