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More Delays For Atlantic City Trump Bankrupcy Case
Wednesday January 21,2015 : MORE DELAYS IN ATLANTIC CITY CASINO BANKRUPTCY CASE
Unsecured creditors committee complaint over denial of access to relevant documents.
Carl Icahn's offer to save two Trump Entertainment Resorts land casinos in Atlantic City from bankruptcy has suffered yet another delay whilst an unsecured creditors’ committee is given an opportunity to study documents relating to his proposal.
The committee complained that it had been denied documents concerning Icahn’s efforts to boost his Atlantic City casino holdings, and a new date of February 13 has now been set to give them time to consider the offer on the Trump Taj Mahal and the now shuttered Trump Plaza.
According to a Bloomberg report Tuesday, a hearing had been scheduled last week to consider the approval of disclosure materials explaining a plan under which Icahn would take ownership of the casinos, mostly in exchange for debt.
Icahn has apparently agreed to make more information available.
Meanwhile, a hearing on January 28 will consider the approval of a $20 million loan Icahn has offered to keep the Trump Taj Mahal operating.
Icahn and his related entitles are dominant holders of $285.6 million in first-lien notes to be exchanged for ownership of the two Trump casinos under the plan.
The creditors’ committee is opposed to the plan because it only offers unsecured creditors $1 million in cash and the right to file specified lawsuits, for a recovery of less than 0.5 percent on unsecured claims, which may be more than $232 million.
Gambling News :
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
NY Rangers vs. Devils on 12/21 -
When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.
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