Trump backs Icahn’s no-debt plan for his Atlantic City casinos

As Carl Icahn announced he would buy most first-lien bank debt of Trump Entertainment Resorts and team with Beal Bank on a debt-free reorganization, AP reported via CNBC that Donald and Ivanka Trump had offered $114 million with Beal to take the company private but “Trump switched sides last month,” saying his bondholder-backed plan was bogged down in costly litigation.

“Trump switched sides last month,” Quote verified against source