Another Lawsuit Over The Value Of The Trump Name

by Deidre Woollard (RSS feed)
Jul 15th 2009 at 8:00PM

Once again the use of the Donald Trump name has gotten a developer in trouble. Earlier this year angry investors sued Donald Trump and Los Angeles developer Irongate Wilshire over the failure of the Trump Ocean Resort Baja Mexico. Now some of the buyers at the new Trump International Hotel & Tower Waikiki Beach Walk have filed a lawsuit looking to get out of their sales contracts. Once again they said that Irongate misrepresented Donald Trump's role in one of their projects. The sellers claim that Irongate said in 2006 that Donald Trump was a co-developer of the 38-story project but that the developer had only licensed the Trump name. The lawsuit alleges that Irongate concealed the terms of the license. The popular project set records in 2006 when sales opened and the units sold out in a single day with units selling for millions of dollars.

The lawsuit says that the buyers were only told right before final deposits were due that the project was Trump in name only. This led to concerns about the worth of the real estate if Trump pulls his name from the project. The AP reports that the lawsuit will be amended to add more buyers. The Trump name was also involved in a similar lawsuit in Florida. Trump is not named in these lawsuits but certainly they must bolster his belief in the value of his name and brand.

Tags: donald trump, DonaldTrump, hawaii, irongate, lawsuit, waikiki

Filed under: Real Estate Developments

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Nelson Jul 16th 2009 10:08AM

Why would anybody in their right mind do business with this man, or purchase anything with his name associated with it? He is not a successful businessman, he is an obnoxious self-promoter.