Donald Trump will not be taking over the bankrupt casino and entertainment company that bears his name, but he and his daughter will retain a stake in the entity under the terms of a deal Trump struck with the bondholders who will take the company out of bankruptcy, according to court records.
Kasowitz, Benson, Torres & Friedman bankruptcy head David Friedman represented Trump, a longtime firm client. (Friedman, who represented Trump when Trump Entertainment went bankrupt in 2004, is one of the few lawyers Trump has ever said anything nice about, according to this 2004 story from The American Lawyer.) Friedman says he has been representing Trump for about 10 years after a mutual friend introduced them.
