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Caesars Entertainment Operating Company Mediator Selected

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According to the U.S. Bankruptcy Court docket, Caesars Entertainment Operating Company filed a notice of selection of mediator.

The notice states, “The Honorable Joseph J. Farnan, Jr., retired Chief Judge of the United States District Court for the District of Delaware, has agreed to serve as mediator in connection with the negotiation of a consensual plan of reorganization among the parties in these chapter 11 cases.”

As previously reported, the Company’s motion to appoint a mediator had argued, “To the extent the Debtors are not able to reach consensus with their key stakeholders before the Examiner’s report is released, the Debtors expect that the Examiner’s report will facilitate continued (and accelerated) discussions that hopefully will result in the parties reaching a global resolution….Accordingly, the Debtors believe it is prudent and in the best interests of their estates to seek the appointment of a sitting bankruptcy judge (to the extent that the relevant parties are previously unable to agree on a mediator) to, if necessary, facilitate discussions, negotiations, and resolution among the key stakeholders of plan issues after the Examiner’s report is filed and parties have had an adequate opportunity to evaluate it.”

Read more CEOC bankruptcy news.

The post Caesars Entertainment Operating Company Mediator Selected appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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