ATLANTIC CITY, N.J. — On TV, this kind of thing gets you fired. Bondholders who stand to lose their $1.25 billion investment are standing up to Donald Trump, asking a bankruptcy court judge to block the planned sale of three Atlantic City casinos to the man who once controlled them.
The bondholders filed a motion Tuesday asking Judge Judith Wizmur to block the $100 million Trump deal and instead accept their offer of $175 million, plus $75 million from the sale of Trump Marina Hotel Casino.
Though they bear his name, Donald Trump has no role in running the casinos or in the company that owns them, Trump Entertainment Resorts. He resigned as chairman of the board just before the company filed for bankruptcy in February.
“The board members who approved that deal were appointed by the bondholders,” said Trump, left. “The people who served as the bondholders’ representatives are the ones who approved this deal because it was the better deal.” The Associated Press; AP file photo
