Trump Sued Over Chicago Tower
Top lender accuses developer of missing loan deadline
Wednesday, Jul 29, 2009 | Updated 8:47 AM CDT
Crain's Chicago is reporting that the top lender on the Trump Tower filed suit against Donald Trump Friday over a $40 million payment.
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.
