NEW YORK (Reuters) - Beal Bank has done a restructuring offer for broke Trump Entertainment Resorts' (TRMPQ.PK) Atlantic City casinos that would give it a 65 percent interest in a casinos company, a bank's profession pronounced on Wednesday.
Dallas-based Beal Bank introduced its devise about a week after Donald Trump abandoned his campaign to get back a properties temperament his name.
Beal Bank, which is due around $486 million, offering a New Jersey bankruptcy judge as well as Trump Entertainment to modify $386 million of loans it done to a casinos in to equity of a company, as well as embrace a $100 million cash payment, profession Thomas Lauria said.
Under Beal Bank's proposal, alternative creditors of Trump Entertainment would embrace a 35 percent interest in a company, Lauria said.
Trump Entertainment was not available for comment.
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