Trump Casino Bankruptcy Judge Asks If Time to Liquidate
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Trump Entertainment Resorts Inc. is losing money, its assets are deteriorating, and the Atlantic City, New Jersey, casino-owner’s prospects of turning things around are bleak. Why shouldn’t it just be liquidated, asked the judge overseeing its bankruptcy.
U.S. Bankruptcy Judge Kevin Gross in Wilmington, Delaware, ordered the company to “show cause why the court should not convert the case” to a formal liquidation under Chapter 7 of the bankruptcy code. The judge scheduled a hearing for Dec. 4.