Billionaire investor Carl Icahn has teamed with a Nevada bank to present a restructuring plan for bankrupt Trump Entertainment Resorts.  A “conservative” approach is needed to ensure the company emerges from bankruptcy, according to Icahn.  A representative for Icahn would not say how much he paid for the debt.

Trump responded to the transaction in an email, saying, “I have not run the casinos in years and am not involved in this transaction.”  Trump Entertainment filed for bankruptcy months ago, hobbed by a drop in gaming revenues in Atlantic City as well as growing regional competition.