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Caesars Creditor Group Sues for Receiver to Run Operating Unit

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A Caesars Entertainment Corp. creditor group said managers should be stripped of control of the casino company’s operating unit because they looted the subsidiary of billions of dollars in assets.

UMB Bank, trustee for first-lien noteholders owed about $1.25 billion, sued Caesars yesterday in Delaware Chancery Court, repeating allegations made by junior creditors in August.