WILMINGTON SAVINGS FUND SOCIETY, FSB v. CAESARS ENTERTAINMENT CORPORATION

C.A. No. 10004-VCG.

WILMINGTON SAVINGS FUND SOCIETY, FSB, solely in its capacity as successor Indenture Trustee for the 10% Second Priority Senior Secured Notes due 2018, on behalf of itself and derivatively on behalf of CAESARS ENTERTAINMENT OPERATING COMPANY, INC., Plaintiff, v. CAESARS ENTERTAINMENT CORPORATION, CAESARS GROWTH PARTNERS, LLC, CAESARS ACQUISITION COMPANY, CAESARS ENTERTAINMENT RESORT PROPERTIES, LLC, CAESARS ENTERTAINMENT OPERATING COMPANY, INC., CAESARS ENTERPRISE SERVICES, LLC, ERIC HESSION, GARY LOVEMAN, JEFFREY D. BENJAMIN, DAVID BONDERMAN, KELVIN L. DAVIS, MARC C. ROWAN, DAVID B. SAMBUR, and ERIC PRESS, Defendants, and CAESARS ENTERTAINMENT OPERATING COMPANY, INC., Nominal Defendant.

Court of Chancery of Delaware.

Decided: March 18, 2015.


Attorney(s) appearing for the Case

Martin S. Lessner , Richard J. Thomas , and Nicholas J. Rohrer , of YOUNG CONAWAY STARGATT & TAYLOR, LLP, Wilmington, Delaware; OF COUNSEL: Bruce Bennett , Sidley P. Levinson , and Joshua M. Mester , of JONES DAY, Los Angeles, California; Geoffrey Stewart , of JONES DAY, Washington, D.C.; Philip Le B. Douglas , Todd R. Geremia , and Rajeev Muttreja , of JONES DAY, New York, New York; and James Carr , Eric R. Wilson , and David Zalman , of KELLEY DRYE & WARREN LLP, New York, New York, Attorneys for Plaintiff Wilmington Savings Fund Society, FSB, solely in its capacity as successor Indenture Trustee for the 10% Second Priority Senior Secured Notes due 2018.

Kenneth J. Nachbar , William M. Lafferty , John P. DiTomo , and Lindsay M. Kwoka , of MORRIS, NICHOLS, ARSHT & TUNNELL LLP, Wilmington, Delaware; OF COUNSEL: Eric Seiler , Philippe Adler , Emily A. Stubbs , and Jason C. Rubinstein , of FRIEDMAN KAPLAN SEILER & ADELMAN LLP, New York, New York, Attorneys for Defendants Caesars Entertainment Corporation, Caesars Entertainment Resort Properties, LLC, Caesars Entertainment Operating Company, Inc., Caesars Enterprise Services, LLC, Eric Hession, Gary Loveman, Jeffrey D. Benjamin, Marc C. Rowan, David B. Sambur, and Eric Press.

Kenneth J. Nachbar , William M. Lafferty , John P. DiTomo , and Lindsay M. Kwoka , of MORRIS, NICHOLS, ARSHT & TUNNELL LLP, Wilmington, Delaware; OF COUNSEL: Marc E. Kasowitz , David S. Rosner , Andrew K. Glenn , and Joshua M. Greenblatt , of KASOWITZ BENSON TORRES & FRIEDMAN LLP, New York, New York, Attorneys for David Bonderman and Kelvin L. Davis.

Andrew D. Cordo and Marie M. Degnan , of ASHBY & GEDDES, PA, Wilmington, Delaware; OF COUNSEL: Christopher Harris and Daniel D. Adams , of LATHAM & WATKINS LLP, New York, New York, Attorneys for Defendants Caesars Growth Partners, LLC and Caesars Acquisition Company.


MEMORANDUM OPINION

On December 5, 2014, I heard oral argument on and took under advisement the Defendants' Motions to Dismiss or Stay the Verified Complaint in this action. Due to the Defendants' representations that they would imminently seek to enjoin this action by application...

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