Trump Takes On Developers In Baja Building Gone Bust
Last month angry investors sued Donald Trump and Los Angeles developer Irongate Wilshire over the failure of the Trump Ocean Resort Baja Mexico. Now Trump is fighting back with a lawsuit of his own. His lawsuit accuses Irongate Wilshire's principals of not following through on the plans for the five-star resort which bore his name.Would-be owners of the condos are asking the courts for the return of $32 million of down payments made in 2006 and 2007. Trump's suit is for $40 million in compensatory and punitive damages and that the lawsuit will help buyers get their money back. The LA Times reports that Trump felt "unfairly targeted" by the buyers' lawsuit because he was not a developer of the project, it was just using his name but that he doesn't like to see people lose money. The owners just want their money back whether it comes from Trump or anyone else.
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Reader Comments (Page 1 of 1)
Andy Apr 10th 2009 6:43PM
Trump's name is on the development. How about stepping up and paying the deposits instead of getting into another lawsuit?
redmenace Apr 11th 2009 4:33AM
Trump has always been a over hyped douchebag.His reputation is build on his ability to market himself as the king of luxurious real estate, when in reality he owns very little of the real estate that bears his name.