Creditors of Caesars Entertainment Operating Co. are gathering in Chicago to jockey for spots on a court-sponsored panel that will determine whether the bankrupt casino company must contend with a loyal opposition or its most intractable foes as it tries to cut billions of dollars in debt, Bloomberg News reported today. In cases of this size, the U.S. Trustee’s Office appoints an official committee to look out for the interests of unsecured creditors including suppliers, pensioners and low-ranking bondholders. That process is scheduled to begin Wednesday. Caesars’ main operating unit filed for bankruptcy protection Jan. 15 in Chicago, weighed down by debt taken on when Apollo Global Management and TPG Capital took the company private in 2008 for $30.7 billion.
