Trump Plan Bests Rival Icahn Bid In Casino Ch. 11

Law360, New York (April 13, 2010, 7:07 PM EDT) -- Donald Trump and a faction of noteholders have bested Carl Icahn’s competing reorganization plan for bankrupt casino company Trump Entertainment Resorts Inc., winning confirmation of a plan that the bankruptcy judge said offers creditors a better shake while shedding $1.4 billion in debt.

On Monday, Judge Judith H. Wizmur of the U.S. Bankruptcy Court for the District of New Jersey deemed both plans confirmable, even favoring the clean balance sheet promised by Icahn and Beal Bank, but ultimately concluded that the support from creditors and employees...
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