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 Refco in a derivative suit alleging that Cantor Fitzgerald deprived the partnership in which Refco is invested—Cantor Index Holdings, L.P. (“CIH”)—of valuable assets.  Particularly, Refco claims that after it made an $8 million investment in exchange for a 10% holding in CIH, Cantor siphoned off CIH’s proprietary technology and intellectual property and ultimately shut it down. In June 2014, the case survived a motion to dismiss, Refco amended its complaint in 2015, and the case survived a second motion to dismiss in 2018.  The parties are currently engaging in fact discovery.  The parties expect the trial to take place towards the end of 2019.   G&E is also pursuing adversary proceeding concerning the failure of CIH to provide audited financial statements after 2008, as required by the parties’ limited partnership agreement.


  • 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.