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A university legally embattled nonprofit at the University of Wisconsin, Oshkosh, has declared bankruptcy, Inside Higher Ed reported today. The news comes as two former UWO Foundation administrators are being sued after the UW System asked the Wisconsin Department of Justice to pursue action regarding “improper financial actions” related to five real-estate projects financed by the nonprofit. The UWO Foundation continues to operate rogue of the president’s discretion. “We learned on August 17 the UWO Foundation filed a reorganization petition under chapter 11 of the federal bankruptcy law,” Chancellor Andrew Leavitt said in a statement. “After months of extensive effort by the Board of Regents, UW System and the Department of Justice to secure the future of these investments for UWO, the parties were unable to reach a settlement and the Foundation ultimately chose this action.”

The Nevada Gaming Commission unanimously approved a series of registrations and licensing that will enable the Caesars Entertainment Corp. to clear Nevada’s final regulatory hurdle while in bankruptcy, the Las Vegas Review-Journal reported today. Caesars has 47 properties worldwide, including nine in Las Vegas. Caesars CEO Mark Frissora, Tim Donovan, the company’s general counsel and compliance officer, and chief financial officer Eric Hession explained a merger of Caesars Entertainment Corp. with Caesars Entertainment Operating Co. and the emerging company’s exit from chapter 11 protection as well as registrations of subsidiary companies and LLCs and the licensing and suitability of several corporate officers, executives and key employees. Under terms of the bankruptcy emergence plan, outlined in an 839-page registration statement filed with the Securities and Exchange Commission last month, Caesars would separate nearly all of its U.S.-based real estate property assets from its gaming operations. Caesars Entertainment would continue to own and manage the gaming operations and the property assets would be held by a newly created real estate investment trust owned by some creditors.

HCR ManorCare Inc.’s landlord, publicly traded real-estate investment trust Quality Care Properties Inc., sued to remove the management of the operator of skilled-nursing and assisted-living facilities and replace them with a court-appointed receiver, the Wall Street Journal reported. QCP’s move follows months of frustration over unpaid rent at HCR ManorCare, even after the REIT made a deal with the skilled-nursing-facility operator on its rent in April. HCR ManorCare manages 292 skilled-nursing and assisted-living facilities. For its part, HCR ManorCare says that it is spending all of its free cash flow in rent to QCP, a spokesman for the company said. Now QCP wants the court to appoint a receiver who will have the power to collect rent from Carlyle Group-owned HCR ManorCare, according to a lawsuit filed in a California court last week.

A laid-off employee from battery maker Alevo filed a lawsuit Tuesday in federal bankruptcy court alleging the company violated a law requiring it to give workers 60 days’ notice of a downsizing, the Charlotte (N.C.) Observer reported today. The U.S. arms of Alevo, the Swiss battery maker with a high-profile Russian investor, on Friday filed for chapter 11 protection and announced layoffs for 290 workers in Concord, northeast of Charlotte. The plaintiff, Jerome Singleton, worked as a project manager until Friday at Alevo’s facility located at a former Philip Morris cigarette factory in Concord, the suit says. According to the complaint, he received no advanced notice of the layoff or any explanation. The lawsuit, which seeks class-action status, alleges the company did not provide required notice under the Worker Adjustment and Retraining Notification Act and asks the federal bankruptcy court for “statutory remedies, as well as unpaid wages.”