Investors are suing Caesars for reneging on its guaranty of bonds issued by its operating unit, Caesars Entertainment Operating Co Inc, or CEOC, which is bankrupt. An appeal hearing is scheduled for Tuesday in Chicago, just hours before U.S. District Judge Jed Rakoff in Manhattan was scheduled to hear oral arguments from several bondholders. Until now, Caesars' operating unit was able to use a bankruptcy court shield to protect its parent from some $11 billion in bondholder lawsuits filed in New York and Delaware.