Joel R. Glucksman
Partner
201-896-7095 jglucksman@sh-law.comFirm Insights
Donald Trump Removing Name From Atlantic City Casino
Author: Joel R. Glucksman
Date: March 2, 2015
Key Contacts
Back
A bankruptcy court ruling on Friday February 20 gave Donald Trump a leg up on stripping his name from the troubled Trump Taj Mahal Atlantic City casino.
Trump will now be allowed to proceed with a licensing suit, which demands that his name be erased from all of the Atlantic City properties owned by Trump Entertainment Resorts, according to The Wall Street Journal.
Trump had originally filed the licensing suit as a state court action in New Jersey’s Atlantic County Superior Court.
The case was removed to the federal bankruptcy court in Delaware, when Trump Entertainment Resorts filed a Chapter 11 bankruptcy proceeding, and the suit was then stayed by the bankruptcy filing. The ruling on February 20 by Bankruptcy Judge Kevin Gross allows Trump to proceed with his licensing suit.
Nevertheless, the ruling was a victory for Trump, according to The Wall Street Journal, Trump says that the Trump Entertainment Resorts casino operations in Atlantic City are not worthy of his “luxury brand.
- The Wall Street Journal notes that a Trump attorney Alan Garten stated that, “the value of the (Trump) brand is at an all-time high right now.”
- Although Trump owns a small equity share in Trump Entertainment Resorts, as well as having permitted them to use his name, he is not part of the management of the operation.
In the meantime, the Trump Entertainment Resorts proposed bankruptcy plan is being voted on by its creditors. If approved by the creditors and the bankruptcy court, Carl Icahn will control the reorganized company, and it will then be up to the New Jersey Superior Court to decide whether the reorganized company will have the right to continue to use the Trump name.
To find out more about Donald Trump’s involvement with Atlantic City casinos, feel free to look at some of my previous stories under the related posts section below this article:
- Practices: Bankruptcy & Creditors' Rights, Corporate Transactions & Business, Bankruptcy Litigation
- Locations: Red Bank, NJ, New York City, Little Falls, NJ
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Related Posts
See all
Are Stay Interviews the Key to Retaining Top Talent?
Retaining top talent continues to be one of the greatest challenges facing employers today. Even in an employer’s market, the loss of a key employee can disrupt operations and result in significant costs. While compensation plays a role, long-term retention often depends on workplace culture, communication, and employee engagement. One increasingly popular strategy for improving […]
Author: Angela A. Turiano
Why Secured Transactions Are Important
Secured transactions form the backbone of a wide range of business dealings, including business loans, mortgages, and inventory financing. Because the stakes are often high and relatively minor oversights can have drastic consequences, lenders and borrowers should thoroughly understand how to form an enforceable security agreement that protects their legal rights. What Is a Secured […]
Author: Dan Brecher
Don’t Cash a “Paid in Full” Check Without Understanding the Legal Implications
Cashing a check marked “paid in full” can be a risky endeavor, particularly if you don’t fully understanding the legal implications. If you are owed more than the amount of the check you accept and deposit, you may waive your right to collect the full disputed amount. That is why you should consider either rejecting […]
Author: Dan Brecher
Changes to Qualified Small Business Stock Will Benefit Startup Founders and Investors
The One Big Beautiful Bill Act of 2025 (OBBBA) significantly impacts federal taxes, credits, and deductions. A key change relating to Qualified Small Business Stock (QSBS) allows greater tax-free gains for investments in startups and other qualifying small businesses. Company founders and other investors should understand how the enhanced tax strategy works or risk missing […]
Author: Dan Brecher
Corporate Consolidation and Antitrust Issues in Mergers
Corporate consolidation involves two or more businesses merging to become a single larger entity. The result is often a stronger and more competitive company that can better navigate today’s competitive marketplace. What Is Corporate Consolidation? Corporate consolidation closely resembles a basic merger transaction. The primary difference is that a consolidation creates an entirely new business […]
Author: Dan Brecher
What is Business Law and Why Is it Important?
Business law plays a critical role in nearly every aspect of running a successful enterprise, from negotiating a commercial lease to drafting employee policies to fulfilling corporate disclosure obligations. Understanding what is business law and your legal obligations can help your business run smoothly and build productive relationships with clients, business partners, regulators, and others. […]
Author: Dan Brecher
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.