(Flashback: 2008) Deutsche Bank sues Trump over hotel loan

Chicago Tribune ^ | December 01, 2008 | Mary Ellen Podmolik

[Lonesome in Massachussets]

This story is seven years old. How did it turn out?

[aMorePerfectUnion]

2008???

[Rusty0604]

This will be an endorsement of Trump to his followers. Add this to the fact that his wife didn’t work at Goldman Sachs and we have a winner!

[KGeorge]

Here comes the NWO.

[FerociousRabbit]

LOL!

[TornadoAlley3]

Trump sued them. They called a truce.

[Fresh Wind]

More here (from 2009):

“Donald Trump, Deutsche Bank reach truce over Chicago skyscraper’s finances”

http://articles.chicagotribune.com/2009-03-04/news/0903030537_1_donald-trump-trump-international-hotel-skyscraper

[lodi90]

That’s it. I’m done with Trump.

[Red Steel]

Trump sued them. They called a truce.

Trump wins again. LoL.

[SubMareener]

Just another successful negotiation for Donald Trump. :-)

[justlittleoleme]

Trump filed suit against Deutsche Bank in New York State Supreme Court in Queens, seeking to excuse a repayment of more than $330 million due Nov. 7 and extend the construction loan for an unknown period of time because the global economic crisis was a “once-in-a-lifetime credit tsunami.”

So.... Trump is going to default on a loan and then sues the bank who loaned it to him?
Very Presidential.

[kik5150]

Trump isn’t owned by the big banks. He just defaults on loans. New York values.

[AndyJackson]

Trump first sued Deutsche and other lenders in New York State Supreme Court in Queens, seeking to excuse a repayment of more than $330 million due Nov. 7 and extend the $640 million construction loan for an unspecified amount of time. In the suit, Trump claimed that the global economic crisis was a "once-in-a-lifetime credit tsunami" affecting his ability to sell units at the Tower and repay the loan. He also sought $3 billion in damages.

Deutsche then filed its lawsuit in New York State Supreme Court in Manhattan, claiming Trump personally owed the bank $40 million after defaulting on the loan.

OK guys, we are adults around here. This was to forestall a foreclosure when because the economy went south, Trump was left with a building to complete and sell. The lenders, Deutsche Bank, are big boys and knew that they were accepting a market risk when they made the loan.

At the end of the day I presume the building was completed, the units sold, and the lender repaid.

[AndyJackson]

He just defaults on loans. New York values.

Any information that the loan was not eventually paid?

[kik5150]

This story is old. You forgot the rule that anything Trump said or did more than a week ago is irrelevant.

[jmaroneps37]

Eight years ago;really?

[CrosscutSaw]

By Trump logic, Trump is owned by Duetsche Bank.

[JPG]

Dude, like, this story is so old, it's like, got mold on it!

[Fresh Wind]

The building in question was indeed completed, and is the Trump International Hotel & Tower in Chicago.