Michael Walsh, the Weil Gotshal attorney representing Trump Entertainment Resorts in its bankruptcy proceedings, is an acute observer.
Competing plans on how to rescue Trump’s hotel-casino business arrived in federal bankruptcy court today. The plans pit Trump and his daughter against Carl Icahn and Andy Beal. In case you forgot, these sides don’t get along.
Icahn on Trump: “(He) runs companies so badly that I think it’d be really bad for the company if he took over.”
It’s obvious that the case is going to drag on for a while, thanks to the high-powered heads of business involved (and their, um, egos).
Or, as Walsh put it rather nicely to a Reuters reporter, “I don’t know if it’s because four billionaires are involved.”
We think that’s exactly what Walsh knows.
Business Insider Emails & Alerts
Site highlights each day to your inbox.