Although the Caesars Entertainment bankruptcy is playing out in a Chicago court far from Nevada, it’s still closely connected to Las Vegas, including through one local academic involved in the case, the Las Vegas Sun reported today. University of Nevada-Las Vegas law professor Nancy B. Rapoport has been appointed to lead a committee that reviews bills for legal work and other professional fees and expenses tied to the proceedings. Rapoport, an expert in bankruptcy law and ABI’s Vice President-Research/Grants, will thus be a key player as the casino giant seeks to restructure one of its divisions in court. Caesars Entertainment Operating Company filed for chapter 11 protection in mid-January. The flagship Caesars Palace resort is the only Las Vegas property owned by the bankrupt division. Some Caesars creditors are fighting the company about corporate maneuvers that they say unfairly robbed the bankrupt division of value. A court-appointed examiner is investigating the allegations. Accordingly, legal professionals are working on the case, which is racking up a sizable stack of bills, and that’s where Rapoport comes in. She’s the chairperson of the fee committee, which consists of five members. Rapoport is the committee’s independent member, a position that must be held by a “disinterested” person. The other committee members represent various parties with a stake in the case, as well as the U.S. Trustee Program, an arm of the Department of Justice that oversees bankruptcies.
