AGAIN!
Trump Hotels & Casino Resorts and related operations sought a Chapter 11 restructuring after reaching agreement with most of its creditors on a new financial structure for the business. Trump's stake would be slashed to 27% from 47%, even after he plows $72 million into the new operation. Other common shareholders would be mostly wiped out, and bondholders would control about two-thirds of the equity in the reorganized company under the proposed restructuring plan, which is subject to court approval.
Their last bankruptcy (in which Trump also made out like a bandit) was reported in this blog just 3.5 years ago.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.