Scores Holdings (SCRH)

[badman]

Trump Entertainment intends to hand itself over to billionaire investor Carl Icahn, who would cancel the $286 million in company debts he owns in return for ownership of Trump Entertainment. Icahn would invest $100 million into the Taj Mahal, but only if he can get significant state and local tax breaks — requests that thus far have been rejected at every level of government.

Last week, the company said it had made significant progress in talks with state officials, but did not specify what if any assistance might be in the offing.

The shutdown petition says the Taj Mahal will close at 5:59 a.m. on Dec. 12, and the final hotel guests have until noon that day to check out. Cars have to be out of the garage by 5 that evening.

The company also says in the petition it has notified its bars and restaurants that they must prepare "wind-down plans" but has not yet heard back from them. They include the Scores gentlemen's club; Il Mulino; Trattoria; Sbarro's; Hard Rock Cafe; and Royal Albert's.

The main casino cash cage will remain open until 8 a.m. Dec. 12 to let patrons cash in their final winnings. Slot tickets, marker redemptions and other cage transactions can be made for 30 days after the casino closing.

Donald Trump, who used to control the company, now has only a 10 percent ownership stake.