Outside the grading scale: Pre-Office Conduct
Four Corporate Bankruptcies: Trump's Atlantic City Casinos, 1991–2009
The Trump Taj Mahal, financed largely with junk bonds, went into Chapter 11 in 1991; Trump gave up half his stake and sold his yacht and airline to repay loans. In 1992 more Trump properties went through bankruptcy, and Trump gave up a 49% stake in the Plaza Hotel to lenders. In 2004 Trump Hotels & Casino Resorts, nearly $1.8 billion in debt, filed for Chapter 11 and Trump's stake fell to about 25%; in 2009 its successor, Trump Entertainment Resorts, filed again. Trump has called it using 'the laws of this country to pare debt'. No court or regulator found wrongdoing in the filings.