By Meena Kar
New Jersey, Feb 24, (THAINDIAN NEWS) The four day trial on the fate of the bankrupt casino company Trump Entertainment resorts have started on Tuesday. Carl Icahn who is reportedly called by many as takeover specialist, is fighting against Donald Trump who has put forward a strong take over plan in front of the court. Both the contenders seem to be ready to takeover the Trump Entertainment resorts. The four day trial has begun in at New Jersey’s federal bankruptcy Court.

Both the billionaires have put forward best of lawyers to win the case. While the 74 year old Carl Icahn’s proposal is being carried forward by Kasowirtz, Benson, and Torres, the opponent has put forward as its representative Brown Rudnick, according to reports. Donald Trump and his daughter Ivanka Trump are backing the Trump Entertainment bondholders and have put in front of the court a takeover plan. However, Carl Icahn’s videotaped speech stole the show at the first trial. His comments made news in themselves.

According to reports, Carl Icahn is a first-lien debt holder of the bankrupt casino company. He has reportedly said that if the company is entailed to him, he will make the company debt free. It is reportedly said that he has as his partner banker Andy Beal who will work with the billionaire to take the company towards glory. On the other hand, Donald Trump will be holding 5% of the company stake if the bondholders win the case. This battle between the billionaire has however left others speculating about the future of the Trump Entertainment which is highly indecisive as of yet.