Senior creditors of Caesars Entertainment Corp.’s bankrupt operating unit are threatening to abandon a framework agreement and propose their own formal restructuring plan as soon as Monday, Reuters reported yesterday. Until now, senior lenders and bondholders have been the only creditors to back a framework agreement to slash some $10 billion of debt from Caesars' operating unit, which filed for bankruptcy with $18 billion of debt in January 2015. But since that deal was revised in October, they say that there has been "a very substantial decline in the value of the debt and equity securities proposed to be provided" to them, according to a bankruptcy court filing yesterday.
