Creditors to Vote on Taj Mahal Board:...
From Times Staff and Wire Reports
Creditors to Vote on Taj Mahal Board: Bondholders in Donald J. Trump’s Taj Mahal casino will have a say in who sits on the board of the Atlantic City, N.J., gaming house under a proposed bankruptcy reorganization plan, documents disclosed. A compromise arrangement reached last month between Trump and investors after Trump missed a $47.3-million interest payment called for restructuring the debt in what is known as a “prepackaged” bankruptcy filing. The plan would entitle bondholders to elect three of the seven members of the board. Trump would get to pick the other four.
