ATLANTIC CITY, NJ—With a court hearing scheduled today in Wilmington, DE, Trump Entertainment Resorts Inc. has filed a revised bankruptcy plan.
The revisions include estimates that investor Carl Icahn, who is owned $292 million by Trump Entertainment, could recover anywhere from 38% to 65% of his claim, according to The Inquirer.
The value of his claims, based on the estimated value of the Trump Taj Mahal and the former Trump Plaza, range from $110 million if the Taj Mahal closes to $190 million if the casino resort remains open.
The revised plan also discloses that Icahn has agreed to provide $15 million to help pay for bankruptcy costs if the Taj Mahal closes next month. See story in The Inquirer.
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