Caesars directors must ‘pony up’ details of wealth
By Tracy Rucinski, Reuters
Billionaire investors Marc Rowan and David Bonderman are among Caesars Entertainment Corp. directors who must disclose details of their wealth to creditors of the casino holding company’s bankrupt subsidiary, a U.S. judge said last week.
Junior creditors of Caesars Entertainment Operating Co Inc. convinced the court on Wednesday to force six of the parent’s directors to prove they can contribute to CEOC’s reorganization plan in exchange for releases from allegations of fraud.
“These folks are going to have to pony up the paper,” U.S. Bankruptcy Judge Benjamin Goldgar said at a hearing in Chicago on Wednesday.