A sampling of the Firm’s current and recent high-profile bankruptcy representations include:

  • Company
  • Description
  • Recovery Amount
  • Caesars Entertainment Corporation
  • Danner v. Caesars Entertainment Corporation, et al.


Southern District of New York

G&E represented the lead plaintiff in a purported class action against Caesars Entertainment Corporation (“CEC”) and its subsidiary Caesars Entertainment Operating Company (“CEOC”) relating to a series of unsecured notes that were issued by CEOC and guaranteed by CEC. The complaint alleged that CEC, CEOC and certain preferred noteholders unlawfully amended the applicable indenture to eliminate CEC’s guarantee in violation of the Trust Indenture Act of 1939 and in breach of that contract. CEC’s motion to dismiss Danner’s complaint was denied in its entirety as it applied to CEC. CEOC, meanwhile, filed a voluntary petition for relief under the Bankruptcy Code, thereby staying litigation against CEOC. Nonetheless, G&E aggressively pursued the claims against CEC and opposed CEOC’s efforts in the bankruptcy court to enjoin, stay and release the claims attendant to the Danner case. G&E was also deeply involved in CEOC’s bankruptcy proceedings and related litigation in furtherance of the interests of its client and the class of noteholders. This case settled in August 2016, effective October 2017, when CEOC’s plan of reorganization became effective. The action in the Southern District of New York was dismissed following the effective date of CEOC’s plan of reorganization in October 2017.

  • Cantor Fitzgerald
  • Refco Group Ltd. v. Cantor Fitzgerald LP, et al.


Southern District of New York

G&E is currently representing plaintiffs in a suit alleging that Cantor Fitzgerald deprived Refco of assets due pursuant to an investment and partnership interest. Particularly, Refco claims that its $8 million investment in exchange for a 10% holding in a Cantor Fitzgerald subsidiary was not fairly compensated when Cantor shut down that subsidiary, acquiring its proprietary technology and intellectual property. Refco alleges that Cantor continued to develop the business without compensating the estate. In June 2014, the case survived the motion to dismiss, and is now proceeding toward trial. G&E also represents Refco Group’s bankruptcy estate and its administrator in matters related to the enforcement of the terms of a joint venture partnership agreement, and in January 2016 settled an adversary proceeding resulting in the re-auditing of the related party disclosures of Cantor Index Holdings, L.P.’s financial statements from 2008 to 2013.


  • Flag Litigation Trust
  • Flag Litigation Trust v. Bande, et al.


Southern District of New York

G&E represented a litigation trust established by the Bankruptcy Court for the Southern District of New York for the purpose of pursuing litigation on behalf of the creditors of Flag Telecom Holdings Ltd. The complaint in this case alleged breaches of fiduciary duty under Bermuda law by Flag’s officers and directors, aided and abetted by certain third parties, in connection with various fraudulent conveyances and the company’s filing of materially false financial statements. The suit was filed in New York Supreme Court, and was subsequently removed to federal court by the defendants. In November 2010, the suit settled for $24.4 million.