Trump Trying to Gain Control

Donald Trump is back in the news with his attempts to get control of the bankrupt casinos that bear his name. He no longer owns the various slot machines or casinos that are located in Atlantic City, as he had to put the company into Chapter 11 bankruptcy protection earlier this year.
 
Trump has offered to pay bondholders and extra $13.9 million in cash in the hope that he might once again get control of these slot machine casinos. However, bondholders have made a play of their own and have upped their offer to try and gain control as well. They increased their offer from $175 million up to $225 million and are now in a bidding war with the casino mogul.
 
United States bankruptcy court judge Judith H. Wizmur is aware of the attempts of each group to gain control of the slot machine casinos, and has scheduled January 20 is the first of five possible days of hearings in order to decide it. Her goal is to help the company emerge from bankruptcy protection, but does not want to instigate more litigation by choosing one plan over another.
 
The judge is hoping that both sides will actually work out a deal before they come into her courtroom. She says that I allowing them to decide how best to handle the slot machine casinos that they may save them all a lot of stress and time. Only time will tell if she is successful.

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