Trump, Ad Hoc Committee Polish Rival Ch. 11 Plans

Law360, New York (November 5, 2009, 6:30 PM EST) -- After months of bitter rivalry, bankrupt Trump Entertainment Resorts Inc. and a committee of incensed noteholders have readied competing reorganization plans, leaving it for creditors to soon decide the future ownership of the gaming company.

An ad hoc committee of second-lien noteholders submitted its latest reorganization plan Thursday in the U.S. Bankruptcy Court for the District of New Jersey, hours after the debtors, allied with Donald Trump and the primary lender, filed their proposal.

The creditors have until Dec. 28 to vote on the plans, and...
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