A federal appeals court in Philadelphia Friday upheld a decision that allowed the Trump Taj Mahal casino in Atlantic City, N.J., to escape its union contracts in bankruptcy.
The decision is a victory for Carl Icahn, the billionaire who controls the last remaining Atlantic Casino to bear the Trump name, after a series of bankruptcies.
A chapter 11 exit plan was confirmed for Trump Entertainment Resorts Inc.
that puts Mr. Icahn in sole charge of the company. However, he delayed implementing the plan until the appeals court spoke on the question of the rejected u…
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