Donald Trump and daughter Ivanka have given up on their bid to regain control of Trump Entertainment Resorts, the bankrupt company that controls the three crumbling Atlantic City casinos that bear the Trump name. In other not-so-encouraging news for the family, it's now considered "likely" that lenders will soon foreclose on Trump Soho, the epically troubled condo/hotel on Spring Street. Some good news? If you're feeling drowsy this afternoon, a visit to the Trump Soho website will wake you up and that's totally free of charge. [WSJ, Curbed]
Is real estate mogul Kent Swig headed down the same path as Hassan Nemazee, the banker who stands accused of providing banks with false information to obtain nearly $300 million in loans? The Real Deal reported on Monday that Swig, who is facing a series of lawsuits over several real estate deals that have gone bust, may be forced to file for personal bankruptcy if a $28 million judgment against him is enforced.