One Small Hedge Fund Is Carrying On in Battle Over Caesars
- Trilogy-led group holds $22 million claim in $17 billion case
- Suit it filed in 2014 could still test Depression-era law
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The titans of the investing world have settled their fight in bankruptcy court over the future of the Caesars casino empire. But one tiny band of lenders is pressing on and keeping alive a lawsuit they say is designed to protect small investors.
The bondholder group led by Trilogy Capital Management acknowledges that its case against Caesars Entertainment Corp. won’t upend the carefully negotiated settlement reached this week among creditors owed $17.3 billion. After all, they hold just $22 million in the casino giant’s unsecured bonds, says Barry Kupferberg, director of research for the investment fund.