Trump brand losing luster?

Sep.September 03, 2009 05:14 PM

From the South Florida Web site: Even as Donald Trump battles for control of the failing casinos that
bear his name, the developers of Trump International Hotel & Tower
in Fort Lauderdale face a federal class action suit that claims buyers
were misled about buying into the Trump brand.

The Trump
International Hotel & Tower sits empty and incomplete on A1A.
Buyers who put down a security deposit on condo units have been put on
notice: If at least 50 percent of the buyers don’t close on their units
the hotel won’t open. If the hotel doesn’t open, the owners can’t move
in. That means the building may lose the elite Trump insignia because
of a default on the licensing agreement.

The class action suit
seeks a refund of security deposits to buyers who expected to move into
units long ago, units bearing the Trump brand name. A separate false
advertising lawsuit was recently filed on behalf of 55 buyers.

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