Monday, December 1, 2008
News / Chicagoland Trump lender says Trump defaulted--and now he has to pay
Posted by Alison True on Mon, Dec 1, 2008 at 9:55 AM
In a move that sounds strangely familiar, Crain's reports that the lead lender on Donald Trump's Chicago tower project is suing in New York state court to recover a personal guarantee Trump made on the $640 million loan. Trump sued earlier, accusing the Deutsche Bank syndicate of refusing to extend the maturity date of the loan, for 401 N. Wabash, and now the bank says Trump has defaulted and wants to call in the his $40 million guarantee. The court will decide if Trump defaulted.
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