Trump does not want his name used if Icahn takes over the hotel casinos, however he says he would allow the other group to take his and his daughter's name for a 10% stake in the company. Icahn asserts that his group is entitled to it under an already active licensing agreement.
Although Trump continues to assert that his brand is synonymous with "luxury" and was valued at $3 billion, recently. Icahn and his lawyers allege that because of Trump's three bankruptcies with this company, the name no longer represents "business acumen, high quality and style, a luxury lifestyle and enormous success."
Some of the bondholders feel the right to the name makes Trump's reorganization plan more viable, whereas Icahn asserts that the only loss incurred by losing the Trump brand would come at the price of $15 million to $20 million to replace the signage on the property.
Bankruptcy Judge Judith Wizmur will make the ultimate decision as to which plan is better for the bondholders. To read the full Journal article, click here.
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