12/14/2009

Billionaire investor Carl Icahn and Texas banker Andrew Beal have pitted themselves against Donald Trump and a group of note holders in the battle for Trump's Atlantic City, N.J., casinos. On Friday, Icahn acquired a majority stake in Beal Bank's $486 million first-mortgage liens on casinos owned by Trump Entertainment Resorts. Trump Entertainment has been in bankruptcy since February.

Related Summaries