The reorganization plan of Trump Hotels & Casino Resorts was approved. The company plans to emerge this month as Trump Entertainment Resorts. The plan calls for an about $400-million reduction in the company's debt with a reduced interest rate of 8.5 percent. The plan permits a working capital facility of up to $500 million secured by a lien on the company's assets, which will allow it to refurbish and expand its properties and enter new markets.
Compiled by Elaine Simon, esimon@advanstar.com
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