Liquidation hearing for Trump Entertainment postponed
ATLANTIC CITY (AP) — A bankruptcy hearing on whether Trump Entertainment Resorts should be liquidated instead of reorganized has been postponed for a week.
No reason was given for the delay in the hearing, which had been scheduled for Thursday. It is now planned for Dec. 11 — the day before the Taj Mahal casino is due to close.
But talks are ongoing among the company, its main union, would-be purchaser Carl Icahn, and New Jersey officials on possible ways to save the casino and its 3,000 jobs.
A rescue plan announced Tuesday by two state senators for the city's eight remaining casinos would grant them tax breaks of 28 percent in the first two years, and 43 percent after that — the type of assistance Trump Entertainment has been seeking for months.
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