ATLANTIC CITY, N.J. (AP) – Bankrupt Trump Entertainment Resorts and the city of Atlantic City have reached a deal to let the city collect unpaid taxes.
The deal was approved Tuesday afternoon by a Delaware bankruptcy court judge. It lets the city hold a tax sale of the company’s back debt – as much as $22 million. But it also explicitly preserves the company’s right to appeal the amount of its unpaid 2014 taxes.
The company is trying to keep its lone remaining casino open.
The Trump Taj Mahal is scheduled to close Dec. 12, unless a deal can be reached with its main union regarding the restoration of health insurance and pension plans for its 3,000 workers.
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