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The fate of Trump’s Atlantic City casinos could be determined in bankruptcy court next week, however Donald Trump and Investor Carl Icahn cannot agree on the properties future path.
Trump Entertainment filed for bankruptcy in February 2009 and in December the court ruled that both parties could submit reorganization plans, after Icahn purchased a majority of the casinos debts.
In documents filed Tuesday, Trump objected to last minute changes submitted by Icahn stating that other branding possibilities had not been explored and that Icahn should not be permitted to use the Trump brand as part of his reorganization plan.
Trump has made allegations that he may be entitled to $100 million in claims because Icahn’s plans breach his trademark licensing agreement with the casino company.
Trump has also asked the courts to allow him the right to vote on Icahn’s plan, while Icahn and co investor Andrew Beal say that would put other creditors at a disadvantage.
Trump has been working with the company’s bondholders to form a plan that would give him a small stake in the restructured company and allow the Trump Taj Mahal, Trump Plaza and Trump Marina to continue to bear his name.
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