A U.S. judge on Wednesday suggested the casino operating unit of Caesars Entertainment Corp (CEC) ask its parent’s private equity sponsors for money to fund a plan to exit its contentious $18 billion bankruptcy.
Apollo Global Management LLC and TPG Capital Management LP formed the Caesars casino holding company in a 2008 buyout and the three groups are facing claims of fraud and asset stripping by creditors of the bankrupt unit.
Caesars, Apollo and TPG have denied the claims.
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