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Article: Trump Breaks Off Talks With Taj Mahal Bondholders
- Article from:
- The Washington Post
- Article date:
- November 14, 1990
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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Real estate developer Donald Trump took a giant step today
toward placing the Taj Mahal Casino in bankruptcy proceedings, a
move that could ultimately cost him ownership of his newest and
biggest Atlantic City gambling palace.
Faced with a Thursday deadline for meeting a $47 million
interest payment that he is expected to miss, Trump angrily broke
off negotiations with bondholders that had been aimed at a financial
bailout of the troubled property.
In a telephone interview early this evening, Trump said it was a
"distinct possibility" that the Taj Mahal would soon be forced into
a Chapter 11 bankruptcy filing, which would allow the casino to
remain open while attorneys for all sides try ...