Donald Trump hit with sanction in SoFla case

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

TRD 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
Clockwise from left: Scott Rechler of RXR Realty, James Whelan of REBNY, Governor Andrew Cuomo, Bill Rudin of Rudin Management, Rob Speyer of Tishman Speyer and Jonathan Gray of Blackstone (Illustration by The Real Deal)

These real estate execs will help Cuomo reopen New York

These real estate execs will help Cuomo reopen New York
 Donald Trump

Trump’s Mar-a-Lago furloughs 153 employees

Trump’s Mar-a-Lago furloughs 153 employees
Michael Cohen and Donald Trump (Credit: Getty Images)

Home in the time of corona: Michael Cohen to be released from prison

Home in the time of corona: Michael Cohen to be released from prison
From left: Blackstone president Jonathan Gray, Vornado CEO Steve Roth, Related chairman Stephen Ross and President Donald Trump (Credit: Getty Images)

These are the real estate execs Trump tapped to help restart the economy

These are the real estate execs Trump tapped to help restart the economy
Donald Trump and Trump International Hotel at 1 Central Park West (Credit: Alex Wong/Getty Images, Google Maps)

Trump International Hotel lays off 70 employees

Trump International Hotel lays off 70 employees
Caption: Stanley Chera (Photo by Patrick McMullan/Patrick McMullan via Getty Images)

Stanley Chera, titan of NYC retail, dies of coronavirus

Stanley Chera, titan of NYC retail, dies of coronavirus
arrow_forward_ios

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

Loading...