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Multiple news Sources Reporting CET Has Reached Agreement On their Bankruptcy Plan

Discussion in 'Gaming & Casino Industry' started by MrStealth, Sep 27, 2016.

  1. MrStealth

    MrStealth
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    Multiple news Sources including Reuters, Fox Business News, Forbes, etc is Reporting CET Has Reached Agreement On their Bankruptcy Plan and an end to the bankruptcy appears to be very close.

    In the end CET and Apollo had to pony up more than they originally wanted to, however, with all of the shenanigans they tried to pull in the last few years shuffling assets around I think they are very lucky to not have wound up in jail.
     
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  2. pphold

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    Article in Forbes


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    Billionaire David Tepper Wins In Caesars Bankruptcy Deal As TPG, Apollo Avoid New Legal Battles
     
  3. Malibugolfer

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    It was Tepper and Oaktree that called Apollo and TPG's hand. No way did Rowan and Bonderman want personal wealth discovery on record.
    I can only imagine the legal bills in this little BK. And Trilogy Capital's end result as a holdout.
    The swaps were a raid on assets.
     
  4. MrStealth

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    yeah, I was really surprised when the judge issued that ruling that they would have to provide personal financial statements including "receipts for their kids birthday parties" LOL Less than 1 week later what took 2 years now appears done.

    In the original deal, Tepper would have gotten like .06 to .09 cents on the dollar he will now get .66 cents on the dollar, a huge difference.
     
  5. Krh2o

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    Hopefully as this shakes out all three companies can be the same outfit and same ticker symbol. I thought it was crazy for some places in one company and some in others. That should be banned.
     

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