Trump buys subordinate Trump Hotels & Casino Resorts notes
What happened
promisedocumented Trump said he would focus on improving the casino company's performance.
- U.S. Securities and Exchange Commission: Trump Hotels & Casino Resorts 2002 Form 10-K2003-03-31 · Related-party transactions, notes, fees, and Riviera sections
- 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
actiondocumented Trump purchased subordinate notes issued by the casino company.
- U.S. Securities and Exchange Commission: Trump Hotels & Casino Resorts 2002 Form 10-K2003-03-31 · Related-party transactions, notes, fees, and Riviera sections
outcomedocumented The company received insider financing and Trump obtained a creditor position subject to the disclosed priority.
- U.S. Securities and Exchange Commission: Trump Hotels & Casino Resorts 2002 Form 10-K2003-03-31 · Related-party transactions, notes, fees, and Riviera sections
limitationdocumented The filing does not establish that the purchase disadvantaged the company or guaranteed Trump repayment.
- U.S. Securities and Exchange Commission: Trump Hotels & Casino Resorts 2002 Form 10-K2003-03-31 · Related-party transactions, notes, fees, and Riviera sections
People and organizations
- Donald Trumpaffected party
- Trump Hotels & Casino Resortsbeneficiary
Assessment
The insider financing supplied company capital while positioning Trump as a creditor; the record is mixed rather than evidence of a one-way transfer.