Caesars Entertainment Corp. is getting close to the bankruptcy finish line. Two years of court battles with bondholders…. and fighting over who should help pay the $20 billion in debt that Caesars is facing.

In order to do a deal, bondholders & other creditors would have to stop accusing the money men behind Caesars, Apollo and TPG of plundering the operating company of valuable assets before putting it into bankruptcy. Caesars was threatened with potential litigation for fraud, stripping out the good assets from the bad assets, keeping the good stuff away from creditors.

Caesars’ is offering financially hosed parties more than $5 billion in cash, new debt and stock in a reorganized business.

Bondholders are suing Caesars’ non-bankrupt parent, Caesars Entertainment Corp., claiming the company abandoned a repayment guarantee and shifted assets out of the operating unit that could have been used to pay its debts.

Caesars Entertainment Corp’s Future Now a Battle Between Billionaires

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