Carl Icahn has been forced to put his acquisition of the Trump casino hotels in Atlantic City on hold for a few weeks, Bloomberg has reported. The billionaire investor is looking to buy two bankrupt casinos from Trump Entertainment which declared bankruptcy in September.
The investor had made a deal to take over debt in exchange for ownership and was supposed to already receive approval for the deal in a hearing. But it was delayed because, as Bloomberg reported, he official unsecured creditors’ committee objected, saying it had been denied documents related to Icahn’s efforts to boost his Atlantic City casino holdings.
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Icahn has already loaned the bankrupt Trump Taj Mahal it $286 million. Last year he won a court ruling which nullified union contracts there so that the hotel would no longer need to pay out on pension and health benefits to its workers.