Bankrupt Caesars unit gets court's OK to use cash, for now

Recent Cases

A federal judge in Chicago ruled Wednesday that a bankrupt division of Caesars Entertainment Corp. can tap some of the $847 million in cash it has on hand for at least five weeks.

Judge Benjamin Goldgar said Caesars Entertainment Operating Co. could access its cash in the interim despite objections from some of the company's creditors.

A budget the company submitted to the court indicated it plans to spend $334 million through April 3. The documents showed revenue is expected to offset spending and leave the company with $834 million in cash at the end of five weeks.

Goldgar scheduled a hearing to reconsider the motion on March 26.

Several other motions, including requests for an examiner to investigate the company's pre-bankruptcy transactions, were delayed until March 25.

The company was also seeking to get out from under several contracts that would save it $675,000 a month.

Among the contracts is a suite for Kansas City Chiefs football games, a sponsorship with the New York Mets, an advertising agreement with The Forum in Los Angeles, and deals with a tour bus operator to support its Horseshoe Bossier City casino in Louisiana and a nearby Springhill Suites hotel operator where the company regularly reserved a block of rooms.

Related listings

  • Supreme Court sides with Kansas in water dispute

    Supreme Court sides with Kansas in water dispute

    Recent Cases 02/25/2015

    The Supreme Court on Tuesday ordered Nebraska to pay Kansas $5.5 million in a long-running legal dispute over use of water from the Republican River. The justices also gave Nebraska some of what it asked for and ordered changes to the formula for mea...

  • NY court: Chimps don't have same rights as humans

    NY court: Chimps don't have same rights as humans

    Recent Cases 12/05/2014

    A chimpanzee is not entitled to the rights of a human and does not have to be freed by its owner, a New York appeals court ruled Thursday. The three-judge Appellate Division panel was unanimous in denying "legal personhood" to Tommy, who lives alone ...

  • Court reverses woman's conviction in child's death

    Court reverses woman's conviction in child's death

    Recent Cases 09/22/2014

    A state appeals court Wednesday overturned the conviction of a South Texas woman imprisoned for capital murder in the 2006 salt poisoning death of her 4-year-old foster son. The Texas Court of Criminal Appeals granted a new trial for Hannah Overton o...

USCIS Adjusting Premium Processing Fee

U.S. Citizenship and Immigration Services (USCIS) announced today it is adjusting the premium processing fee for Form I-129, Petition for a Nonimmigrant Worker and Form I-140, Immigrant Petition for Alien Workers beginning on Oct. 1, 2018 to more effectively adjudicate petitions and maintain effective service to petitioners.

The premium processing fee will increase to $1,410, a 14.92 percent increase (after rounding) from the current fee of $1,225. This increase, which is done in accordance with the Immigration and Nationality Act, represents the percentage change in inflation since the fee was last increased in 2010 based on the Consumer Price Index for all Urban Consumers.

“Because premium processing fees have not been adjusted since 2010, our ability to improve the adjudications and service processes for all petitioners has been hindered as we’ve experienced significantly higher demand for immigration benefits. Ultimately, adjusting the premium processing fee will allow us to continue making necessary investments in staff and technology to administer various immigration benefit requests more effectively and efficiently,” said Chief Financial Officer Joseph Moore. “USCIS will continue adjudicating all petitions on a case-by-case basis to determine if they meet all standards required under applicable law, policies, and regulations.”

Premium processing is an optional service that is currently authorized for certain petitioners filing Forms I-129 or I-140. The system allows petitioners to request 15-day processing of certain employment-based immigration benefit requests if they pay an extra fee. The premium processing fee is paid in addition to the base filing fee and any other applicable fees, which cannot be waived.