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Trump Entertainment Resorts Plan Effective

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According to the U.S. Bankruptcy Court docket, Trump Entertainment Resorts’ Third Amended Joint Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection.

Trump Entertainment Resorts and affiliated Debtors emerged from previous bankruptcy filings in 1991, 1992, 2005 and 2010. The privately-held gaming provider filed its most recent Chapter 11 petition on September 9, 2014, listing more than $100 million in pre-petition assets.

The Court confirmed the Plan on March 12, 2015. As previously reported, the Plan gives control of the reorganized entity and its Taj Mahal casino to senior secured lender Carl Icahn and also provides for an exchange of Icahn’s $290 million debt for all of the reorganized company’s stock.

Read more Trump bankruptcy news.

The post Trump Entertainment Resorts Plan Effective appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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