Caesars’ lawsuit against second-lien noteholders dismissed
Caesars Palace hotel-casino with it fountains is seen on Tuesday, May 12, 2015, in Las Vegas. (David Becker/Las Vegas Review-Journal)
A lawsuit by casino company Caesars Entertainment Corp. against a group of creditors known as the second-lien noteholders, who are owed billions of dollars, was dismissed by a New York state court judge on Monday, according to a court filing.
Caesars had alleged in an August 2014 lawsuit that the second-lien noteholders harmed the company through bogus allegations and demand letters.
Caesars had offered to withdraw the lawsuit, although it wanted to leave open the possibility of refiling it, which prompted the second-lien noteholders to seek a dismissal, according to the court filing.
Caesars has been battling with its creditors over the bankruptcy of its operating unit and a plan to restructure $18 billion of its debt.
