The designs presented in this volume offer a wide and varied vision of the latest trends in bar and restaurant design, selected from the most cutting-edge, wining-and-dining hotspots in the world. With ...
Settles for 10 percent stake in reorganized company
Donald Trump has abandoned his bid to regain control of the three New Jersey casinos that bear his name. The Wall Street Journal reports that Trump and his daughter, Ivanka, Trump reached a settlement with a group of creditors they were battling for control of Trump Entertainment Resorts, which filed for bankruptcy protection in February.
Under the deal, the Trumps will drop a $116 million bid for the casinos they had been making with Beal Bank, the company's largest secured lender. Instead, the Trumps deal with the company's bondholders would give Donald Trump common stock and warrants worth 10 percent of the reorganized company.
The three Atlantic City casinos run by Trump Entertainment Resorts -- Trump Taj Mahal Casino Resort, Trump Plaza Hotel and Casino and Trump Marina Hotel Casino -- will continue to operate under those names. Donald Trump will be permitted to use his name on other gambling ventures in states that do not compete directly with the New Jersey properties.
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