Trump Chicago loan default dispute
What happened
promisedocumented The Chicago project loan documents required repayment under specified maturity and extension terms.
- Supreme Court of New York: Trump Chicago v. Deutsche Bank decision2009-02-01 · Loan terms, November 2008 notice, default, and competing claims
actiondocumented Trump notified Deutsche Bank that the project would not repay at maturity and asserted that the financial crisis triggered contractual relief.
- Supreme Court of New York: Trump Chicago v. Deutsche Bank decision2009-02-01 · Loan terms, November 2008 notice, default, and competing claims
- Associated Press: What the Trump civil-fraud trial showed about bank lending2023-12-12 · Chicago loan default and later lending context
affected groupdocumented The lender and borrower filed competing claims before later resolving the dispute.
- Supreme Court of New York: Trump Chicago v. Deutsche Bank decision2009-02-01 · Loan terms, November 2008 notice, default, and competing claims
- Associated Press: What the Trump civil-fraud trial showed about bank lending2023-12-12 · Chicago loan default and later lending context
limitationdocumented The court record reflects disputed contract defenses and later settlement rather than a final fraud finding on the default.
- Supreme Court of New York: Trump Chicago v. Deutsche Bank decision2009-02-01 · Loan terms, November 2008 notice, default, and competing claims
- Associated Press: What the Trump civil-fraud trial showed about bank lending2023-12-12 · Chicago loan default and later lending context
People and organizations
- Deutsche Bankaffected party
- Trump Chicago purchasers and project stakeholdersaffected party
Assessment
The payment promise was missed on schedule. The financial crisis, contractual defenses and a later settlement leave the final legal and economic outcome mixed.