Private investigation firms such as Phenix Investigations, Inc. are called upon to conduct asset investigation for a wide variety of reasons such as an ongoing litigation between a creditor and debtor, as well as to build leverage during the negotiation stage of a case to see if it’s worth filing.
The Case of Caesars Entertainment
One particular case in which the services of an asset investigator were deemed necessary was the recent probe on Caesars Entertainment. On January 15, 2015, the casino giant filed for bankruptcy and declared itself $12 billion in debt. However, during what was supposed to be a routine license renewal hearing last March 27, it was discovered that the company cut off pension payments to 63 former Caesars employees.