Trump Sued Over Chicago Tower

Top lender accuses developer of missing loan deadline

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    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, 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.