Trump Entertainment Resorts bondholders offered to invest $175 million in the bankrupt casino operator and sell one of the properties for $75 million to thwart Donald Trump’s bid to regain control of the company.

The investors, who are owed $1.25 billion, sought bankruptcy court approval late yesterday to submit their own reorganization plan. Debtholders and shareholders would receive nothing under a bid by Trump, 63, and an affiliate of secured lender Beal Bank Nevada.

The bondholders, who claim Trump’s plan undervalues the company, also requested an investigation of the debtors’ conduct in filings with the US bankruptcy court in Camden, New Jersey. Trump is attempting to retake control of the company he founded after its three casinos in Atlantic City wound up in bankruptcy for a third time.