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Trump Sued Over Tower

Trump Sued Over Tower

Things are getting rough for Donald Trump as the lead lender on his tower going up downtown has filed suit, seeking to collect $40 million in guarantees Trump made about the building. The suit was filed Friday by Deutsche Bank Trust Co. Americas, claiming Trump has defaulted on the $640 million loan when he didn't pay off the remaining $334.2 million to the bank and other lenders by November 7. Trump has previously filed suit against the lenders in which he "asked a judge to uphold a so-called force majeure clause in the loan agreement, which permits an extension due to an extraordinary event — in this case, the global financial crisis, according to the complaint." more ›

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