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Caesars unit close to deal with holdout creditor -lawyers

October 19, 2016 7:14 PM
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CHICAGO Oct 19 The bankrupt operating unit of Caesars Entertainment Corp is close to an agreement with a main holdout creditor, hedge fund Trilogy Capital Management, lawyers for the two parties said in an Illinois bankruptcy court on Wednesday.

Trilogy Capital Management is one of several hedge funds that had accused Caesars of scrapping a guarantee on the debt of its bankrupt subsidiary, Caesars Entertainment Operating Co Inc (CEOC), which filed for Chapter 11 protection in January 2015.

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