Donald Trump hit with sanction in SoFla case

Mogul on the hook for legal fees after not disclosing $5M insurance policy

New York /
Jun.June 20, 2014 01:50 PM

From the South Florida site: Donald Trump was hit with a sanction from a federal judge for failing to disclose a $5 million insurance policy when claims tied to the scuttled Trump International Hotel & Tower project were being settled.

U.S. District Judge Kathleen Williams ruled that the celebrity developer and the Trump Organization are on the hook for legal fees. Trilogy Properties and seven individuals were seeking to recover deposits on unit purchases at the failed Fort Lauderdale condo-hotel. Trump was the only defendant not to settle after developer SB Hotel Associates defaulted on the $139 million construction loan in 2009 and a slew of lawsuits were filed to recover deposits.

Miami attorney Jared Beck, who represented Trilogy and the other plaintiffs, asked for sanctions in November 2013, according to the Daily Business Review. Beck allegedly was told by Trump Organization general counsel Alan Garten that an existing insurance policy “dried up.”

Trump still is dealing with lawsuits tied to condo developments in 10 cities, including Sunny Isles Beach and Tampa. [Daily Business Review]Eric Kalis


Related Articles

arrow_forward_ios
Make Greenland Great Again? Trump wants to buy Arctic territory

Make Greenland Great Again? Trump wants to buy Arctic territory

Make Greenland Great Again? Trump wants to buy Arctic territory
Hamptons’ priciest summer rental to host MAGA extravaganza next month

Hamptons’ priciest summer rental to host MAGA extravaganza next month

Hamptons’ priciest summer rental to host MAGA extravaganza next month
House republicans Kevin McCarthy, Blaine Luetkemeyer and Steve Scalise have all received more than $100,000 from real estate PAC donations. (Getty)

Real estate trade groups reconsider donations after Capitol unrest

Real estate trade groups reconsider donations after Capitol unrest
Eric Trump and Donald Trump Jr. with President Donald Trump (Getty)

These are the companies dumping the Trump Organization

These are the companies dumping the Trump Organization
Photo illustration of Alderman Gilbert Villegas  with the Trump International Hotel & Tower. (Getty, Trump Hotels, Gilbert for Chicago)

What’s in a name? If it’s Trump, alderman wants it gone

What’s in a name? If it’s Trump, alderman wants it gone
Cushman & Wakefield CEO Brett White, Mayor Bill de Blasio, and Donald Trump, Eric Trump and Donald Trump Jr. (Getty)

Cushman & Wakefield, NYC cut ties to Trump Organization

Cushman & Wakefield, NYC cut ties to Trump Organization
Airbnb Brain Chesky and President-elect Joe Biden (Getty)

Airbnb cancels all DC-area bookings for inauguration week

Airbnb cancels all DC-area bookings for inauguration week
Walmart suspends political contributions to GOP lawmakers who opposed President-elect Joe Biden’s election certification (iStock; Getty)

Walmart cuts off cash to pols who opposed election certification

Walmart cuts off cash to pols who opposed election certification
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...