Trump Hotels & Casino Resorts post-bankruptcy services agreement with Trump
What happened
promisedocumented 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
actiondocumented The reorganized company entered a services agreement with Trump as part of the confirmed restructuring.
- U.S. Securities and Exchange Commission: Trump Hotels & Casino Resorts 2004 Form 10-K2005-03-31 · Restructuring, bankruptcy plan, services agreement, and signatures
- U.S. Securities and Exchange Commission: Trump Entertainment Resorts 2007 Form 10-K2008-03-14 · Corporate history, ownership, risks, and related transactions
outcomedocumented Trump retained compensation and a promotional role while control shifted toward creditor investors.
- 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
limitationdocumented The agreement was disclosed and formed part of a court-confirmed reorganization plan.
- U.S. Securities and Exchange Commission: Trump Hotels & Casino Resorts 2004 Form 10-K2005-03-31 · Restructuring, bankruptcy plan, services agreement, and signatures
People and organizations
- Donald Trumpbeneficiary
- Reorganized casino-company stakeholderspayer
Assessment
The restructuring preserved an income stream and public role for Trump even after existing investors and creditors absorbed the reorganization's consequences.