Saturday, 20 December 2014
Last updated 1 day ago
Apr 14 2010 | 10:42am ET
Donald Trump and Carl Icahn both went all-in for control of the former’s Atlantic City, N.J., casino empire, but it was Trump left holding all of the cards.
A federal judge picked Trump’s plan to reorganize the eponymous Trump Entertainment Resorts over that proffered by Icahn’s eponymous hedge fund, Icahn Partners. The hedge fund owns some $480 million in Trump Entertainment debt.
Icahn has 10 days to appeal U.S. Bankruptcy Judge Judith Wizmer’s decision.
Trump and his daughter, Ivanka, will hold up to 10% of the reorganized company. But the biggest winner stands to be the creditors committee, led by hedge fund Avenue Capital Group. Under the plan, Avenue will be Trump Entertainment’s largest shareholder.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.