competingoffer by investor Carl Icahn.

US Bankruptcy Judge Judith H. Wizmur sided with a group ofbondholders who are owed $1.2 billion. Their proposal would reduceTrump Entertainment's debt by $1.4 billion to $334 million and givethe celebrity billionaire as much as 10% of the three-casinocompany he once ran. "This time we really cut the debt," Trump toldthe Associated Press. "It was never really cut enough. We'vecut the debt down to a low level, and we now have a company in goodfinancial shape."

The ruling ends a 14-month battle for control of TrumpEntertainment, which pitted billionaires Icahn and Trump againsteach other in a Camden court, and paves the way for TrumpEntertainment's three Atlantic City casinos--the Trump Taj MahalCasino resort, Trump Plaza Hotel and Casino and Trump Marina HotelCasino--to exit bankruptcy a third time.<p.The bondholders, alsobacked by billionaire Marc Lasry of Avenue Capital Group, offeredto invest $225 million in Trump Entertainment. Icahn'splan would have eliminated all of the company's debt, butit also would have wiped out bondholders' investments--akey factor that led Wizmur to side with the proposal from theTrumps and the bondholders. Under the bondholder plan, the $480million in bank loans will be reduced by at least $100 million andthe remainder converted to a new loan.