Advertisement

ENTERTAINMENT

Share
From Times Staff and Wire Reports

Two Trump Casinos File Chapter 11: Two of Donald J. Trump’s three Atlantic City, N.J., casinos, the Trump Castle and Trump Plaza, filed for Chapter 11 bankruptcy protection. The prepackaged filings were made in U.S. Bankruptcy Court in Camden, N.J. In a prepackaged deal, a plan that includes a reorganization blueprint and terms for paying creditors are worked out before a company enters bankruptcy. Bondholders completed voting Friday on an approval of the plans. In Chapter 11, a company is protected from creditors while it reorganizes and tries to come up with a way to repay its debts.

Advertisement