Caesars to Face Multiple Probes of Pre-Bankruptcy Actions

Caesars Entertainment Operating Co. may face multiple probes of its pre-bankruptcy restructuring efforts, a judge said in a ruling that may unleash a “free-for-all” of investigations.

U.S. Bankruptcy Judge Benjamin Goldgar said Wednesday that he planned to deny a request by a court-appointed examiner to temporarily limit creditor investigations of Caesars. The examiner argued that multiple, unfettered investigations could delay his official report, which will evaluate the propriety of Caesars’ decision to transfer assets and refinance some debt in the years before filing bankruptcy in January bankruptcy.

“Let’s assume a free-for-all,” Goldgar said in court.

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