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Mitt Romney asks about Donald Trump's tax returns, page-43

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rotten

1,010 Posts.

26/02/16

16:03

Post #: 17127828
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Originally posted by thecurious1 ↑

Sighs...I didn't say the he is (currently) bankrupt, just that he has been 4 times in the past.

ABC News reports that Trump businesses have actually gone through Chapter 11 bankruptcy four times - in 1991, 1992, 2004 and most recently in 2009. So like many other companies, Trump's businesses have had their ups and downs over the past couple decades.
The first time a Donald Trump business declared bankruptcy was in 1991 when his Atlantic City casino, the Taj Mahal, was in billions of dollars of debt. After a trip to bankruptcy court, Trump was eventually able to reorganize the company's debts and make a financial comeback after developing a budget.
The three other bankruptcies also involved the reorganization of debts and complying with a court-approved reorganization plan. Bankers stepped in and even put Trump on a monthly budget for a while

http://phoenixbankruptcynews.com/2011/04/the-history-of-donald-trumps-bankruptcy-filings.html

Less that 5 seconds on Google will provide any more info required. I wonder what % return to creditors "reorganisation of debts" means??

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Going bankrupt is no big deal . bankruptcy is just a financial rule so people can move forward. Going in to business is high risk .
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