Trumps Score Win In Casino Branding LawsuitDonald Moves Closer To Removing Name From Trump Taj Mahal |
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A lawsuit by the Trumps (Donald and Ivanka) that aims to strip the bankrupt Trump Taj Mahal in Atlantic City of the Trump name has been given the green light to proceed, according to a report from The Wall Street Journal.
A bankruptcy judge in Delaware on Friday said the lawsuit could move forward after months in limbo. Trump Entertainment Resorts, the owner of the casino, wants to keep the name on it.
Specifically, Judge Kevin Gross “lifted the automatic stay that protects casino owner Trump Entertainment Resorts from hostile legal action while it is operating under Chapter 11 bankruptcy protection,” the report stated.
Donald Trump still has a small piece of the casino’s business, but believes that the financially-wrecked casino-hotel is not worthy anymore of keeping the Trump name.
“The value of the brand is at an all-time high right now,” said Alan Garten, a lawyer for the Trump Organization, the main holding company for Donald Trump’s businesses. “That’s why there’s been such a knockdown, drag-out fight.”
Trump Plaza, a second casino in the seaside town that bore the name, closed last year. It was one of several casinos in Atlantic City to shut its doors in 2014.
Trump Entertainment is still working through its Chapter 11 bankruptcy.
The Taj still faces the possibility of closing for good.
The casino’s poker room closed earlier this month, and the casino said that it will reopen in July, assuming the bankruptcy process works out favorably.
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