Friday, 27 November 2015
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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…