CHICAGO Dec 14 Bank lenders of Caesars
Entertainment Corp's bankrupt operating unit need more
time to resolve a dispute over the terms of their recovery, a
lawyer said in court on Wednesday.
On Dec. 6, the committee of bank lenders, which includes
Blackstone Group LP's GSO Capital Partners, threatened to
walk away from the reorganization plan, absent documentation
ensuring part of their recovery.
A lawyer for the bank lenders said the committee would tell
the court on Monday whether it had reached a deal or would move
to withdraw their support for the Caesars unit's so-called
restructuring support agreement.
The lenders had set a Wednesday deadline for informing the
court of a potential deal.
Without the support of bank lenders, a hard-fought deal to
push Caesars Entertainment Operating Co Inc out of a two-year,
$18 billion bankruptcy would fall apart.
(Reporting by Tracy Rucinski; editing by Grant McCool)