CAMDEN, N.J. - June 16, 2009 - Now, the real estate mogul has submitted a plan to buy Trump
Entertainment Resorts out of bankruptcy and retake control of the
casino company that he was forced to relinquish in a 2004
bankruptcy.
Trump's plan to team with Beal Bank competes with a plan from
the company's bondholders.
Mark Juliano, the company's CEO, says the board will weigh both
plans in the coming weeks and select one. A bankruptcy court judge
on Tuesday extended the process 45 days.
The goal of both plans is to whittle down choking debt that
forced the company into its third Chapter 11 filing in February.
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