The Trump Taj Mahal casino failed on Friday to get immediate court approval to end its union pension obligations, a key condition for a $100 million rescue plan backed by billionaire investor Carl Icahn, Reuters reported yesterday. The setback may be only temporary for Trump Entertainment Resorts Inc., bankrupt owner of the Taj Mahal. U.S. Bankruptcy Judge Kevin Gross in Wilmington, Delaware said he will consider the request again on Oct. 14. Erasing the pension obligation is key to a deal to prevent the casino from being the fifth to close this year in the beleaguered New Jersey seaside resort, which has suffered as neighboring states have embraced gambling. Judge Gross said that the Bankruptcy Code barred him from allowing Trump to reject permanently a portion of its collective bargaining agreement. Trump has said that ending the pension obligation will save about $3.7 million annually.
