Financial Events Impacting Trump

Like the rest of the world economy Donald Trump has been impacted by the global financial crisis. His Trump International Hotel and Tower property in downtown Chicago is litigation with Deutsche Bank over the failure to make payments on a $40 million loan secured by the project. Mr. Trump’s defense to the failure to pay is that the global financial crisis is in fact an “Act of God” and as such the loan terms are adjustable. Also Mr. Trump’s Trump Entertainment Resorts organization has filed for Chapter 11 Bankruptcy protection covering its Atlantic City properties. As a result of this filing Mr. Trump was forced to resign from the board of directors.