February 2013, the company agreed to sell the Trump Plaza for $20 million to the Meruelo Group, a California-based company whose holdings include the Grand Sierra Resort in Reno, Nevada. The proceeds would be used to pay down the company's debt to a level of $270 million. CEO Robert Griffin said TER would consider also selling the Trump Taj Mahal for the right price. However, Carl Icahn, who held the mortgage on the Trump casinos, would reject the sale of the Trump Plaza. In early August 2014, Donald Trump filed a lawsuit demanding removal of his name from the company's two casinos, because they had allegedly been allowed to fall into disrepair, in breach of the licensing agreement for Trump's name. 2014 bankruptcy In September 2014, Trump Entertainment Resorts filed again for bankruptcy, and closed the Trump Plaza. On a motion made by union UNITE HERE Local 54, relating to the bankruptcy action, the United States Court of Appeals for the Third Circuit ruled in Trump Entertainment's favor on January 15, 2016 and held that Trump Entertainment could reject the continuing terms and conditions of a collective bargaining agreement with the union, an agreement that had already expired by its terms. This case was significant as it was a matter of First impression among the courts of appeal and could significantly alter the balance of power between debtor-employers and their unions. The company eventually exited bankruptcy in February 2016 and became a subsidiary of Icahn Enterprises. Folding of the company On October 10, 2016, the Trump Taj Mahal, the company's last operating property, closed for the final time. Trump Entertainment continued to operate to deal with the transfer of some points on the Trump One card account. All of the websites related to the company were redirected to DonaldJTrump.com. Trump Plaza remained vacant after the company had gone defunct and its assets were acquired by Icahn Enterprises. In November 2017, it was revealed that Icahn was looking to demolish the casino, and was seeking $5.6 million in tax funds to pay for the demolition, but this caused a rift between Icahn and the local government, delaying the project. On December 14, 2018, the deadline for demolishing it officially passed, meaning Trump Plaza would remain standing through the winter. Later that month, Icahn terminated the deed restriction on the property and bought out a complicated lease, making a sale more attractive.