 The casino narrowly averted default on a 1991 payment to bondholders by taking out a $25 million mortgage on its parking garage.Trump then negotiated a debt restructuring with the Plaza's creditors, under which their $250 million of debt would be exchanged for $200 million of bonds with a lower interest rate, plus $100 million of preferred stock.The plan was submitted as a prepackaged bankruptcy in March 1992.