Restructuring lawyer Richard Davis will likely lead an investigation into transactions by the operating unit of Caesars Entertainment Corp., which filed for chapter 11 this year, Reuters reported yesterday. The Executive Office for U.S. Trustees recommended Davis as the examiner in the case, asking a judge to consider approval of the pick at a hearing on Wednesday. Davis, a former partner at bankruptcy powerhouse Weil Gotshal & Manges, has served in several investigative roles both in and out of bankruptcy. Most recently he was tasked with probing the dealings of bankrupt hedge fund Fletcher International, whose founder, Alphonse "Buddy" Fletcher, is the husband of Ellen Pao, the plaintiff in a high-profile gender discrimination lawsuit against venture capital firm Kleiner Perkins Caufield & Byers. Caesars Entertainment Operating Co. filed for bankruptcy in January to cut its debt by $10 billion. Prior to filing, it transferred a number of its most valuable properties to affiliates of its parent as it struggled to overhaul operations. Creditors have alleged the moves were illegal efforts by the parent to place the assets beyond the reach of creditors.
