March 16, 2009 🟡 Significant

Trump pressures Chicago tower lenders into standstill

With a $640 million construction loan past due on Trump International Hotel & Tower Chicago, Donald Trump sued Deutsche Bank and mezzanine lenders, invoked 'force majeure' defenses, and threatened to strip his name from the project until they agreed to pause collection and renegotiate rather than foreclose.

"force majeure"

Categories

Offenses:
legal-violation threat
Domains:
economy justice-system
Tags:
#debt-default