Former Trump shareholders ask court to keep 2004 bankruptcy case open

By Caroline Salls

Pittsburgh, March 16 - A group of Trump Entertainment Resorts Inc.'s former shareholders asked the U.S. Bankruptcy Court for the District of New Jersey to keep the company's 2004 bankruptcy case open to allow liquidation of the shareholders' claims under the previous case, according to a Monday court filing.

The group of 17 shareholders said they have not received the distribution promised to them under Trump's previous bankruptcy case.

The shareholders said the company has asked the court to close the 2004 case, arguing that the shareholders' claims should be treated like any other litigation claim pending in the current bankruptcy case.

According to the filing, the shareholders' claims were filed in connection with the company's alleged breach of the previous plan of reorganization, and the filing of the 2009 bankruptcy case could be construed as an attempt to modify an existing and failed plan that has already taken effect.

Trump Entertainment Resorts, an Atlantic City, N.J.-based owner and operator of three casino resort properties, filed for bankruptcy on Feb. 17. Its Chapter 11 case number is 09-13654.

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