Caesar’s Entertainment Operating Company (CEOC), the owner of Caesar’s Palace and Harrah’s, is in the middle of filing for Chapter 11 bankruptcy, and the company is quickly approaching their May 15th deadline to come up with a reorganization plan.
Caesar’s released a statement claiming that their Chapter 11 filing is extremely complicated and that because of this they will require more time than the 120 days they were given. CEOC is asking to extend their deadline to come up with a plan to November 15th.
At the United States Bankruptcy Court in Chicago they officially requested an extension to solicit votes on their proposal to January 15, 2016. The deadline is currently set at July 14th.
In order for this to pass, CEOC needs the approval of Judge A. Benjamin Goldgar. Traditionally, judges typically approve these kinds of requests.
Filing for bankruptcy can get complicated, and is almost impossible to handle on your own. If you are thinking about filing for bankruptcy, the experienced team of Dallas bankruptcy lawyers at Gagnon, Peacock & Vereeke, P.C., is ready to help. Call us today at (214) 824-1414 to discuss the specifics of your situation in more detail.