Beal Positions For Trump Casinos Bid

Law360, New York (November 25, 2009, 5:37 PM EST) -- Former Donald Trump ally Beal Bank is pushing to pursue an independent bid to purchase three Trump Entertainment Resorts Inc. casinos out of Chapter 11 bankruptcy protection, the bank disclosed in documents filed with the bankruptcy court Wednesday.

In a motion before the U.S. Bankruptcy Court for the District of New Jersey, Beal disclosed its buyout plan, which involves converting its more than $480 million loan on the Trump casinos into equity, and asked the court to cut down the normal time for filing objections to...
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