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twitterCompany eliminates threat by paying four creditors
Thursday, Dec. 9, 2004 | 10:12 a.m.
ATLANTIC CITY -- Last week, four creditors asked a court to let them form a committee that could have complicated the bankruptcy reorganization of Trump Hotels and Casino Resorts Inc.
This week, Trump Hotels eliminated the threat the creditors posed by paying the companies everything owed them.
The companies, A.C. Coin & Slot Service Co., South Jersey Gas Co., Strauss Glass and AmSan LLC had been seeking to form an unsecured creditors' committee to try to protect their interests during the bankruptcy proceedings.
Trump Hotels owed a total of $44.3 million to thousands of unsecured creditors. How much of that went to the four companies that were paid off was not disclosed.
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