Trump Entertainment Resorts Inc filed for Chapter 11 bankruptcy on Tuesday. New York business litigation lawyers news beat JusticeNewsFlash.com
New York, NY (JusticeNewsFlash.com)–Reuters reported on Tuesday, the Atlantic City, New Jersey casino operator, Trump Entertainment Resorts Inc., named for Donald Trump, filed for Chapter 11 bankruptcy protection on Tuesday. The company was restructured in 2005 after filing Chapter 11 and has survived until the most recent court filing of Chapter 11. This brings the bankruptcy filing by the casino hotel operator to number three.
Trump Taj Mahal, Trump Plaza, and Trump Marina are the three Atlantic City casino hotels named in the filing by Trump. Company executives claim they will operate business as usual because they did not request debtor-in-possession financing during its restructuring. The court documents listed U.S. Bank National Association Corporate Trust Services, Bovis Lend Lease Inc, and Thermal Energy Limited 1 as the top three unsecured creditors affected. The filing in the U.S. Bankruptcy Court for the District of New Jersey listed total assets of about $2.1 billion and total debs of about $1.74 billion on December 31, 2008.
JusticeNewsFlahsh.com news for New York business litigation lawyers.