Trump Sued Over Chicago Tower

Top lender accuses developer of missing loan deadline

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    NEWSLETTERS

    Ring the bell. Looks like Donald Trump and his lenders will go another round in their financing fight at the Chicago high-rise.

    The lead lender on the 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.

    Top Lender Sues Trump Over Payment

    [CHI] Top Lender Sues Trump Over Payment
    Crain's Chicago is reporting that the top lender on the Trump Tower filed suit against Donald Trump Friday over a $40 million payment. (Published Tuesday, Dec 2, 2008)

    Citing chicagorealestatedaily.com, 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.

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