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Third time is not a charm for Trump; Bankruptcy filings

By April MacIntyre Feb 18, 2009, 3:07 GMT

Real Estate mogul Donald Trump is facing another financial setback. Trump Entertainment Resorts have filed for Chapter 11 bankruptcy protection on Tuesday — for the third time according to CNN, Reuters and the AP. © PRN / PR Photos

Trump Entertainment Resorts have filed for Chapter 11 bankruptcy protection on Tuesday — for the third time according to CNN, Reuters and the AP. © PRN / PR Photos

Trump Entertainment Resorts have filed for Chapter 11 bankruptcy protection on Tuesday — for the third time according to CNN, Reuters and the AP. © PRN / PR PhotosTrump Entertainment Resorts have filed for Chapter 11 bankruptcy protection on Tuesday — for the third time according to CNN, Reuters and the AP.The filing was in U.S. Bankruptcy Court in Camden, N.J., four days after Trump resigned as chairman of its board.Trump Entertainment's three properties in question are the Taj Mahal, Trump Plaza Hotel and Casino, and Trump Marina Hotel Casino, sold this past spring. Allegedly, Trump was rebuffed on his offer to buy the company and take it private."Other than the fact that it has my name on it — which I'm not thrilled about — I have nothing to do with the company," Trump told The Associated Press Tuesday."If I can't manage something, it's not for me," said Trump, who still holds 28 percent of the company's stock.The AP noted that all of the company's casinos will operate per usual during the bankruptcy proceedings. Vendors and employees will be paid, customers will have winning bets paid according to the AP report.

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