In re Caesars Entertainment is one of the major-and-successful bankruptcy cases in the history of these United States.
The Caesars bankruptcy was filed on January 15, 2015, in the Northern Illinois Bankruptcy Court with $18 billion of debt. It achieved a confirmed plan two years later (on January 17, 2017). The bankruptcy case finally closed within the last six months (on December 3, 2025), and its last docket entry [No. 9968] is dated January 12, 2026.
Mediation Controversy—Background
In Insight Terminal Solutions, LLC v. Cecelia Financial Management (In re Insight Terminal Solutions, LLC), 148 F.4th 869 (6th Cir. 2025), the Sixth Circuit reversed a bankruptcy court’s exclusion of deposition testimony in a debt-versus-equity recharacterization dispute. While the majority resolved the appeal on evidentiary grounds, Judge Eric Murphy’s concurrence questioned whether bankruptcy courts have any federal authority to recharacterize loans as equity.
Here is an opinion illustrating how the “indicative rulings” process in Fed.R.Bankr.P. 8008 can work:
I. INTRODUCTION
Several significant judicial decisions were released in 2025 that remain relevant to businesses, commercial lenders and restructuring professionals. This bulletin summarizes the key developments of 2025 and highlights areas of significance for restructuring professionals and market participants to monitor in 2026.
1. Hudson’s Bay Company and Assignment of Contracts
Outstanding payments can quickly become a serious financial risk for creditors. In the UAE, to successfully recover a debt, a creditor must not only prove the debt owed to him, but also take the right steps, at the right time, to maximise the chances of recovery of the debt. Creditors who act early, assess risk properly, and structure their contracts carefully, are far more likely to recover their debts.
A bankruptcy judge has ruled that a debtor can satisfy the Bankruptcy Code’s rehabilitation standard by selling its assets as a going concern and thereby avoid conversion from chapter 11 to chapter 7. In the same decision, the court denied a motion seeking the appointment of what the movants called an “examiner with expanded powers.” In re Deqser, LLC, Case No. 25-10687, 2026 Bankr. LEXIS 1004 (Bankr. D. Del. Apr. 22, 2026).