Judge eyes Trump Entertainment pension obligations
WILMINGTON, Del. (AP) — A Delaware bankruptcy judge will hold a hearing Thursday on a request by Trump Entertainment Resorts to be relieved of its pension obligations under a collective bargaining agreement with workers at the Taj Mahal casino.
The judge had previously scheduled a mid-October hearing on Trump's request for permission to terminate the labor agreement as part of an effort to reorganize and avoid closing the casino in Atlantic City, New Jersey.
But company attorneys have been unable to persuade the union to agree to replace the pension plan with a 401(k) plan. They said Tuesday that they need a quick decision on the pension liability because it could torpedo efforts to reorganize.
Union attorneys argue that the pension question can't be separated from the larger issue of the collective bargaining agreement.