Bankrupt Caesars unit gets court's OK to use cash, for now
Recent Cases
A federal judge in Chicago ruled Wednesday that a bankrupt division of Caesars Entertainment Corp. can tap some of the $847 million in cash it has on hand for at least five weeks.
Judge Benjamin Goldgar said Caesars Entertainment Operating Co. could access its cash in the interim despite objections from some of the company's creditors.
A budget the company submitted to the court indicated it plans to spend $334 million through April 3. The documents showed revenue is expected to offset spending and leave the company with $834 million in cash at the end of five weeks.
Goldgar scheduled a hearing to reconsider the motion on March 26.
Several other motions, including requests for an examiner to investigate the company's pre-bankruptcy transactions, were delayed until March 25.
The company was also seeking to get out from under several contracts that would save it $675,000 a month.
Among the contracts is a suite for Kansas City Chiefs football games, a sponsorship with the New York Mets, an advertising agreement with The Forum in Los Angeles, and deals with a tour bus operator to support its Horseshoe Bossier City casino in Louisiana and a nearby Springhill Suites hotel operator where the company regularly reserved a block of rooms.
Related listings
-
Supreme Court sides with Kansas in water dispute
Recent Cases 02/25/2015The Supreme Court on Tuesday ordered Nebraska to pay Kansas $5.5 million in a long-running legal dispute over use of water from the Republican River. The justices also gave Nebraska some of what it asked for and ordered changes to the formula for mea...
-
NY court: Chimps don't have same rights as humans
Recent Cases 12/05/2014A chimpanzee is not entitled to the rights of a human and does not have to be freed by its owner, a New York appeals court ruled Thursday. The three-judge Appellate Division panel was unanimous in denying "legal personhood" to Tommy, who lives alone ...
-
Court reverses woman's conviction in child's death
Recent Cases 09/22/2014A state appeals court Wednesday overturned the conviction of a South Texas woman imprisoned for capital murder in the 2006 salt poisoning death of her 4-year-old foster son. The Texas Court of Criminal Appeals granted a new trial for Hannah Overton o...
New Rochelle, New York Work Accidents Lawyers
It doesn’t matter what type of work you do or where you work, you can always be at risk of injuring yourself at your work no matter how safe you may think it is. Accidents in the workplace are often caused by unsafe work conditions arising from ignoring safety rules, overlooking maintenance or other negligence of those in management. Work accidents can cause serious injuries and sometimes permanent damage. Some extremely serious work injuries can permanently hinder a person’s ability to get around and continue their daily duties.
Factors that affect one’s quality of life like place of work, relationships with friends and family, social standing can all be taken away quickly by a work injury. Although, you may not be able to recover all of your losses, you may be entitled to compensation as a result of your work injury. In order to ensure that you and your loved ones receive the best outcome, make sure you have the help of an experienced New Rochelle, New York workplace injury lawyer you deserve. We can get you on your way to filing a claim against the responsible party. If you have been injured at your place of work it is important to know your options by seeking legal action. Kommer Bave & Ollman LLP offers a free case evaluation where we will answer any questions you may have and explain your legal options. Call us at 914-633-7400 or contact our firm to schedule a free consultation with an experienced attorney.