That’s different from a Chapter 7 filing, which involves liquidating a company’s assets and distributing the proceeds to creditors.

Under court supervision, the companies devise a plan to pay back some of its liabilities over time. Some Trump companies indeed have sought protection under Chapter 11 of the federal bankruptcy law, which shields businesses from creditors as as they reorganize with hope of remaining open. Kevin Hall, Warner’s communications director, sent us a series of media reports about Trump’s business problems. Clinton has made similar charges against the presumptive Republican presidential nominee, including on July 6 when she spoke in front of the shuttered Trump Plaza Casino and Hotel in Atlantic City, N.J.Įarlier this year, many of Trump’s GOP primary opponents also accused him of running businesses into the ground. We looked at Warner’s contention that Trump bankrupted four businesses. He’s failed miserably, bankrupt four separate businesses,' Warner, D-Va., said during a June 21 interview on CNN. Trump is trying to lay out this proposition that he’s a successful business guy. Mark Warner says presumptive Democratic presidential nominee Hillary Clinton has a 'lot of ammunition' to fire at Donald Trump’s business record.

Atlantic city trump casino bankruptcies