Casino-company restructuring agreement

What happened

1. promise2015-08-06documented

   Trump said corporate bankruptcy law had produced advantageous outcomes for his companies, himself, employees, and family.

   • The American Presidency Project: Republican Candidates Debate in Cleveland, Ohio2015-08-06 · Exchange about Trump-controlled companies' bankruptcy filings
   Read full record
2. action2004-08-09documented

   The company and creditor groups agreed to a restructuring framework that contemplated a Chapter 11 filing.

   • U.S. Securities and Exchange Commission: Trump Hotels & Casino Resorts 2004 Form 10-K2005-03-31 · Restructuring, bankruptcy plan, services agreement, and signatures
   • The New York Times via U.S. House Judiciary Committee record: How Donald Trump Bankrupted His Atlantic City Casinos, but Still Earned Millions2016-06-11 · Pages 2-9: financing, related transactions, bankruptcies, and outcomes
   Read full record
3. outcome2004-08-09documented

   Creditors were positioned to receive control while Trump retained a reduced stake and a services arrangement.

   • U.S. Securities and Exchange Commission: Trump Hotels & Casino Resorts 2004 Form 10-K2005-03-31 · Restructuring, bankruptcy plan, services agreement, and signatures
   • The New York Times via U.S. House Judiciary Committee record: How Donald Trump Bankrupted His Atlantic City Casinos, but Still Earned Millions2016-06-11 · Pages 2-9: financing, related transactions, bankruptcies, and outcomes
   Read full record
4. limitation2004-08-09documented

   The agreement required court approval and did not itself complete the restructuring.

   • U.S. Securities and Exchange Commission: Trump Hotels & Casino Resorts 2004 Form 10-K2005-03-31 · Restructuring, bankruptcy plan, services agreement, and signatures
   Read full record

People and organizations

• Donald Trumpaffected party
• Trump Hotels & Casino Resorts bondholdersbeneficiary