Trump Casinos Defends Ch. 11 Plan From Noteholders

Law360, New York (August 24, 2009, 4:27 PM EDT) -- Rebuffing bondholders’ claims that Trump Entertainment Resorts Inc.’s plan of reorganization is lopsided, the gaming company has urged the bankruptcy court to deny their bid to terminate the exclusivity period and promote a competing plan.

Defending its inflammatory reorganization plan, lodged in the U.S. Bankruptcy Court for the District of New Jersey, the bankrupt casino and gaming company filed an objection Friday to the ad hoc committee of secured noteholders' attempt to push an alternative financial restructuring.

The noteholders’ disappointment is understandable as they stand to...
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