![]() A fourth property, the Plaza Hotel in New York, declared bankruptcy in 1992 after amassing debt. He could not keep up with debts on two other Atlantic City casinos, and those two properties declared bankruptcy in 1992. In July 1991, Trump’s Taj Mahal filed for bankruptcy. ![]() Trump’s Taj Mahal opened in April 1990 in Atlantic City, but six months later, “defaulted on interest payments to bondholders as his finances went into a tailspin,” The Washington Post’s Robert O’Harrow found. The bankruptcy court ultimately approves a corporate budget and a plan to repay remaining debts often shareholders lose much of their equity. Trump’s companies have filed for Chapter 11 bankruptcy protection, which means a company can remain in business while wiping away many of its debts. “On occasion – four times – we used certain laws that are there.” “You’ve taken business bankruptcies six times.”
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