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| TRMPQ.PK > SEC Filings for TRMPQ.PK > Form 8-K on 2-Jun-2009 | All Recent SEC Filings |
2-Jun-2009
Termination of a Material Definitive Agreement
On June 1, 2009, Trump Marina Associates, LLC ("TMA") delivered notice to Coastal Marina, LLC and Coastal Development, LLC (collectively, "Coastal") that the Asset Purchase Agreement, dated as of May 28, 2008, among TMA, Trump Entertainment Resorts, Inc. ("TER") and Coastal (the "Asset Purchase Agreement"), as amended by the Amendment thereto dated as of October 28, 2008 (the "Amendment" (the Asset Purchase Agreement as amended by the Amendment is referred to below as the "Agreement")), is terminated. The Agreement called for, among other things, Coastal to purchase the Trump Marina Hotel and Casino. Coastal has failed to consummate the transaction within the time provided under the Agreement.
Counsel for Coastal has sent notice that Coastal alleges that TMA and TER breached the Agreement and claims that TMA and TER fraudulently induced Coastal to enter into the Amendment. Coastal has demanded that the deposits it paid pursuant to the Agreement be returned to Coastal. TMA and TER believe that these claims are without merit.
Pursuant to the requirements of the Securities Exchange Act of 1934, each of the Registrants has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: June 1, 2009
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