Trump Sued Over Chicago Tower

Top lender accuses developer of missing loan deadline

Wednesday, Jul 29, 2009  |  Updated 8:47 AM CDT
View Comments (
)
|
Email
|
Print
Crain's Chicago is reporting that the top lender on the Trump Tower filed suit against Donald Trump Friday over a $40 million 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.

advertisement

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.

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. 

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
What's New
Get Our Weather App
Stay ahead of the storm with the NBC 5... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out