Noteholders Balk At Beal Plan In Trump Ch. 11

Law360, New York (December 4, 2009, 4:47 PM EST) -- A committee of Trump Entertainment Resorts Inc. noteholders has lashed out at former Donald Trump ally Beal Bank's pursuit of an independent bid to purchase three Trump Entertainment casinos in Chapter 11 bankruptcy protection and cut down the normal time frame to file objections to its plan.

In an objection filed Thursday in the U.S. Bankruptcy Court for the District of New Jersey, the committee, composed of holders of 61 percent of Trump Entertainment Resorts' 8.5 percent senior secured notes, said Beal's request, if granted, would...
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