Motion for Appointment of Examiner
Transcript of Motion for Appointment of Examiner
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IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE
In re:
CAESARS ENTERTAINMENTOPERATING COMPANY, INC.,
Alleged Debtor.
Chapter 11
Case No. 15-10047 (__)
Objection Deadline: To be determinedHearing Date: To be determined
MOTION FOR APPOINTMENT OF EXAMINER
WITH ACCESS TO AND AUTHORITY TO DISCLOSE PRIVILEGED MATERIALS
Appaloosa Investment Limited Partnership I, OCM Opportunities Fund VI, L.P. and
Special Value Expansion Fund, LLC (collectively, the Petitioning Creditors) request the
appointment of an examiner to investigate and report on a series of prepetition insider
transactions by which the parent of Caesars Entertainment Operating Company, Inc. (the
Debtor) systematically stripped the Debtor of many billions of dollars of assets and cash in the
fifteen months prior to bankruptcy. The Petitioning Creditors request that the examiner be
granted authority to (a) review all relevant documents and information, including material that
may be subject to a privilege held by any of the Debtors, and (b) include all such information in
the examiners report to the extent appropriate under the circumstances. A proposed form of
order is attached as Exhibit A.
This Motion is based on theDeclaration of Joshua M. Mesterand the following:
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TABLE OF CONTENTS
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TABLE OF AUTHORITIES CONTD
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Cases Contd
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TABLE OF AUTHORITIES CONTD
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Statutes Contd
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I.
PRELIMINARY STATEMENT
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III.
BACKGROUND
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D. The Plundering Of The Debtors Assets, And The Seizure Of The Total
Rewards Network By Caesars Parent And The LBO Sponsors.
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E. Additional Insider Transactions Benefit Caesars Parent And Others
At The Expense Of The Debtor.
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Dated: January 12, 2015Wilmington, Delaware
Respectfully submitted,
/s/ Robert F. Poppiti, Jr.
Robert S. Brady (No. 2847)Edmon L. Morton (No. 3856)Robert F. Poppiti, Jr. (No. 5052)YOUNG CONAWAY STARGATT &TAYLOR, LLPRodney Square1000 North King StreetWilmington, Delaware 19801Telephone: (302) 571-6600Facsimile: (302) 571-1253
-and-
Bruce BennettJames O. JohnstonSidney P. LevinsonJoshua M. MesterMonika S. WienerJONES DAY555 South Flower StreetFiftieth FloorLos Angeles, California 90071Telephone: (213) 489-3939Facsimile: (213) 243-2539
Attorneys for Appaloosa Investment LimitedPartnership I, OCM Opportunities Fund VI,L.P. and Special Value Expansion Fund, LLC
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