Trump Entertainment, Atlantic City agree to hold tax sale for unpaid debt while appeal stays

Government And Institutions Associated Press

Bankrupt Trump Entertainment Resorts and the city of Atlantic City have reached a deal to let the city collect unpaid taxes.

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The deal still needs approval of a bankruptcy court judge. It would let the city hold a tax sale of the company's back debt of as much as $22 million.

But it also explicitly preserves the company's right to appeal the amount of its unpaid 2014 taxes.

The company is trying to keep its lone remaining casino open.

The Trump Taj Mahal is scheduled to close on Dec. 12 unless a deal can be reached with its main union regarding the restoration of health insurance and pension plans for its 3,000 workers.