May 17, 2010 / 8:04 PM / 9 years ago

Icahn appeals court decision on Trump casinos

* Icahn, Beal appeal bankruptcy court decision on Trump

* Court erred in “key respects” to decision - lawyers

NEW YORK, May 17 (Reuters) - Investor Carl Icahn appealed on Monday a bankruptcy court decision giving Donald Trump and a group of bondholders control of Atlantic City-based Trump Entertainment Resorts Inc TRMPQ.PK.

Icahn and partner Andy Beal asked U.S. Bankruptcy Court Judge Judith Wizmur to temporarily prevent Trump and the bondholders led by Marc Lasry’s Avenue Capital Group from taking over the three casinos.

Judge Wizmur selected the Trump-backed plan last month over a competing plan from Carl Icahn.

“The court erred in several key respects with respect to one of the most central issues in the nine-day confirmation hearing; namely, whether the AHC/Debtor Plan is feasible,” attorneys for Icahn and Beal said in court papers on Monday.

Trump Entertainment filed for bankruptcy protection in February 2009 after struggling with a heavy debt load and a slide in gaming revenue. [ID:nSGE63C03D]

Reporting by Deepa Seetharaman; Editing by Richard Chang

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