Trump Entertainment Resorts filed for Chapter 11 bankruptcy protection on February 17, 2009, after missing a $53.1 million bond payment, marking the sixth bankruptcy of a Trump casino company in 18 years. Just four days before the filing, on February 13, Donald Trump resigned as chairman of the …
Trump Entertainment Resorts filed for Chapter 11 bankruptcy in 2009, owing $1.2 billion. Initially, Trump worked with Avenue Capital Management to restructure the company, rejecting an earlier partnership with Andrew Beal’s Beal Bank. Carl Icahn then purchased 51% of Beal Bank’s first …
Trump Hotels and Casino Resorts, the publicly traded company that operated Trump’s Atlantic City casino empire, filed for Chapter 11 bankruptcy protection on November 21, 2004, unable to make a $73 million interest payment due November 1. The company was drowning in approximately $1.8 billion …
On July 21, 2002, WorldCom filed for Chapter 11 bankruptcy protection, listing $107 billion in assets and $41 billion in debt—making it the largest bankruptcy in American history. The filing came just 26 days after the company disclosed $3.8 billion in accounting fraud, demonstrating the speed at …
Enron filed for bankruptcy on December 2, 2001, marking the largest corporate bankruptcy in U.S. history at the time, with $63.4 billion in assets. The collapse revealed extensive corporate fraud orchestrated by CEO Kenneth Lay and President Jeffrey Skilling, who manipulated financial statements and …
Enron filed for bankruptcy after a series of meetings between its executives, Vice President Dick Cheney, and the National Energy Policy Development Group. The bankruptcy exposed massive corporate fraud, with the company having claimed $101 billion in revenues but ultimately collapsing due to …
From 1998-2016, Deutsche Bank loaned Donald Trump and his companies over $2.5 billion despite Trump’s history of bankruptcies, defaults, and “Donald risk” that caused all other major US banks to refuse him. This lending relationship persisted even as Deutsche Bank was …
The Plaza Hotel in Manhattan, the iconic luxury property Trump had purchased in 1988 for $407.5 million, filed for Chapter 11 bankruptcy protection in November 1992 under the weight of over $550 million in debt. Trump had financed the purchase almost entirely with borrowed money, and the …
Trump Castle and Trump Plaza Hotel and Casino in Atlantic City both filed for Chapter 11 bankruptcy protection on March 9, 1992, marking Trump’s second and third casino bankruptcies in less than a year. Trump Castle faced $338 million in bond debt it could not service, while Trump Plaza was …
Between 1991 and 2009, Donald Trump’s hotel and casino businesses filed for Chapter 11 bankruptcy protection six times, establishing a clear pattern: borrow heavily using high-interest debt and other people’s money, operate businesses unprofitably or make unrealistic revenue projections, …
Donald Trump’s Trump Taj Mahal casino in Atlantic City filed for Chapter 11 bankruptcy protection in July 1991, just over one year after its lavish April 1990 opening. The casino, which Trump had called “the eighth wonder of the world,” was buried under nearly $3 billion in debt, …
Donald Trump opened the Trump Taj Mahal Casino in Atlantic City in April 1990, financed by $675 million in high-interest junk bonds at 14% rates. Within months, the casino faced severe financial challenges, missing debt payments and signaling the beginning of Trump’s broader Atlantic City …