This has been known for some time, today just made it official.
Trump Hotels begins recapitalization
Mon Nov 22, 2004 09:13 AM ET
NEW YORK, Nov 22 (Reuters) - Trump Hotels & Casino Resorts (DJTC.OB: Quote, Profile, Research) on Monday said it has begun its recapitalization process after filing for bankruptcy Sunday night.
The company said it has arranged for a $100 million interim facility from Beal Bank. The funds are expected to be used for general corporate purposes.
The restructuring plan forged last month calls for bondholders to own about two-thirds of the company. Donald Trump's state would shrink to about 27 percent from 56 percent, but he will remain chairman and chief executive.
Trump Hotels begins recapitalization
Mon Nov 22, 2004 09:13 AM ET
NEW YORK, Nov 22 (Reuters) - Trump Hotels & Casino Resorts (DJTC.OB: Quote, Profile, Research) on Monday said it has begun its recapitalization process after filing for bankruptcy Sunday night.
The company said it has arranged for a $100 million interim facility from Beal Bank. The funds are expected to be used for general corporate purposes.
The restructuring plan forged last month calls for bondholders to own about two-thirds of the company. Donald Trump's state would shrink to about 27 percent from 56 percent, but he will remain chairman and chief executive.
It is ridiculous and at the same time he's planning a big move into Pennsylvania, while in another state files for bankruptcy ... The laws are so out of whack in certain areas, this is one of them,,,,Meanwhile I'm suppose to worry about claiming those couple dimes i made last week, LMAO...What a joke.
