Finance

Caesars examiner report finds up to $5 billion in potential damages

Passengers leave the cabin after riding the 550 foot-tall (167.6 m) High Roller observation wheel, the tallest in the world, in Las Vegas, Nevada April 9, 2014. REUTERS/Las Vegas Sun/Steve Marcus Thomson ReutersPassengers leave the cabin after riding the 550 foot-tall (167.6 m) High Roller observation wheel, the tallest in the world, in Las Vegas

CHICAGO (Reuters) – Caesars Entertainment Corp removed assets from its casino operating unit to the detriment of the unit and its creditors, a court-ordered examiner found in a non-binding investigation released on Tuesday.

The unit, Caesars Entertainment Operating Co Inc (CEOC), filed for bankruptcy last year with $18 billion of debt, sparking a bitter feud among some of the biggest names on Wall Street.

Potential damages from the claims could reach $5.1 billion, the examiner said.

(Reporting by Tracy Rucinski and Tom Hals; Editing by Bernard Orr)

Read the original article on Reuters. Copyright 2016. Follow Reuters on Twitter.

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