Pryor Cashman Represents Wilmington Trust, N.A., Co-Chair of Unsecured Creditors Committee, in Caesars Entertainment Bankruptcy
Pryor Cashman client Wilmington Trust, N.A., the successor indenture trustee for $479 million in certain senior unsecured notes in connection with the Caesars Entertainment Operating Company bankruptcy, has been selected as a member and co-chair of the Unsecured Creditors Committee in the Caesars bankruptcy case.
The Caesars bankruptcy, pending in the U.S. Bankruptcy Court for the Northern District of Illinois, is widely regarded as one of the largest modern day bankruptcies. Caesars, the casino-entertainment company, is attempting to restructure over $20 billion of debt.
Representing Wilmington Trust, N.A. are Partner Seth Lieberman and Associate Patrick Sibley, both members of Pryor Cashman’s Bankruptcy, Reorganization and Creditors’ Rights Group.
Lieberman and Sibley have had a long string of similar representations, including the duo’s representation of the second lien indenture trustee in the high-profile Momentive Performance bankruptcy.