Trump Bondholders Push For Rival Plan

Law360, New York (August 12, 2009, 4:11 PM EDT) -- Bondholders of Trump Entertainment Resorts Inc. are seeking to submit a rival reorganization plan they say will deliver more value, filing a motion Tuesday to terminate the debtors' exclusive period to push a Chapter 11 plan.

In a motion filed Tuesday in the U.S. Bankruptcy Court for the District of New Jersey, the noteholders said the gaming company's reorganization plan filed earlier this month would essentially wipe out claims of everyone but Donald Trump and Beal Bank.

Earlier this month, Trump Entertainment Resorts filed a Chapter...
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