FF = Forex Faggots
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Caesars may sink because of alleged $3B typo
Leon Black’s Apollo Global Management is now defending itself against an alleged typo that could cost up to $3 billion. Apollo’s Caesars Entertainment is fighting bondholders in a $750 million New York case that could sink the business — and is hinging on a big “and/or.” Caesars in its 2008 debt agreement set conditions that would need to be met so it could strip the guarantee between the parent company and the gaming-operating subsidiary. In the debt agreement, it says it can strip the gaming subsidiary’s guarantees if: A) it stopped being a subsidiary of the parent, B) the company transferred ... (full story)