Bank Suing Trump: Here's $13.2 Million for Tower

Crain's reporting top lender continues funding Trump Tower

Wednesday, Jul 29, 2009  |  Updated 8:47 AM CDT
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Bank Suing Trump: Here's $13.2 Million for Tower

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The top lender of Trump Tower who sued Donald Trump Friday gave him $13.2 million dollars Monday to fund construction project.

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With adversaries like this, who needs friends.

The lenders who filed suit against Donald Trump over his Chicago high-rise Friday gave the developer another $13.2 million Monday.

Steven Schlesinger, an attorney representing Trump, told Crain's the developer got the advance from Deutsche Bank Trust Co. as a routine monthly draw on the project’s $640-million construction loan. 

“This seems to indicate that they do intend to fund construction until completion,” Mr. Schlesinger, managing partner of Garden City, N.Y.-based Jaspan Schlesinger LLP, told Crain's.

On Friday, funding for the Trump International Hotel and Tower was in question when Deutsche Bank filed a lawsuit in New York state court , saying Trump didn't pay off a remaining $334.2 million loan due to them on Nov. 7.  

Last month, Trump filed his own suit against Deutsche Bank and its syndicate, accusing them on not allowing an extension of the Nov. 7 deadline of the $640-million loan for the project.

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