Sunday, November 30, 2008

Trump Sued Over Chicago Tower

The lead lender on the Chicago Trump International Hotel & Tower is suing Donald Trump, seeking to collect on a $40-million personal guarantee the developer made on the 92-story structure, according to Crain's.

Citing, Crain's said Deutsche Bank Trust Co. Americas filed the suit Friday in Manhattan's New York state court, alleging Trump didn't pay off a remaining $334.2 million loan due on Nov. 7 to Deutsche Bank and its syndicate of lenders.

Amazing, Trump was doing great slapping his names on other peoples deals and getting a percentage for the marketing power of his name, and then he goes and personally guarantees his Chicago deal, breaking with the formula that has worked for him, and it bites him. .

It also looks like Trump Casinos is headed for its third bankruptcy.

This is what you get Donald for not understanding ABCT, and not watching money supply.


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