Thaindian News

By Madhuri Dey
Apr 15, (THAINDIAN NEWS) Donald Trump has turned out to be the winner in the business battle with Carl Icahn, with whom he had been contending for the part ownership of the bankrupt casino called Trump Entertainment Resorts Incorporated. The battle had been continuing for a long time, and had been dragged to court, and finally came to an end with a United States bankruptcy judge ruling in favor of Donald Trump, declaring that his bid for ownership is more feasible for the interests of the company. This is going to help three of the casinos under the Trump Entertainment Resorts to come out of bankruptcy, and this would be the third time that they would be doing so.

The win means that the Trump Entertainment Resorts would have to pay off a debt lesser by $14 million. Moreover, Donald Trump will still be retaining almost 10% ownership of the casinos, and would also be allowed to keep using his name, which, at present, has a brand value of $3 million, as estimated by the man himself. However, there can be no doubt that the loss is a great one for Carl Icahn, who has a few days time to file for an appeal, and it is being speculated that he might well do that.

Donald Trump confessed that he had arrived at the courtroom sure of a victory. However, he also confessed that in case he did fail to win, he would not have allowed Carl Icahn to use his name in the Atlantic City casinos any longer, which are named Trump Plaza, Trump Marina and Trump Taj Mahal. According to the deal, the largest shareholder in the company is going to be the Avenue Capital Group.