Trump looks to increase DIP loan by $5.2 million to make tax payment

By Caroline Salls

Pittsburgh, Feb. 8 – Trump Entertainment Resorts, Inc. requested court approval to amend its debtor-in-possession facility to increase the total principal amount of term loans by $5.2 million to $44.3 million, according to a motion filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

Trump said it will use the additional amount to pay real estate taxes owed to Atlantic City, N.J., by Feb. 10.

In light of an outstanding dispute with Atlantic City regarding the assessed values of the underlying real property, the company said it has not yet determined whether it intends to pay the real estate taxes in the short term but decided it would be in the best interests of the estates to increase the financing amount to allow it to do so.

A hearing is scheduled for Feb. 23.

Trump Entertainment Resorts, an Atlantic City-based owner and operator of casino resort properties, filed for bankruptcy on Sept. 9, 2014. The Chapter 11 case number is 14-12103.

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