NewsWhore
08-24-2012, 03:00 PM
Donald Trump has issued a US$5.8 million lawsuit against Cap Cana S.A. and its owners for neglecting to pay him license fees for the use of his name for the Cap Cana luxury resort.
The 8,000-acre, oceanfront project was launched in 2007 with sales of the Trump Farallon Estates at Cap Cana, a gated community of 68 lots costing US$3 million to US$12 million each.
Trump alleges that the developers abruptly stopped sending monthly sales reports to his Trump Marks Real Estate firm after the start of the 2008 financial meltdown and Trump states that in May 2009 Cap Cana claimed that it had spent the funds that it had received from buyers and lacked sufficient capital to pay Trump Marks any portion of the license fees which were admittedly owed months earlier.
www.nypost.com/p/news/business/donald_fires_suit_at_resort_q3A1I2hCJdxgZ3rsLDDH6H#ixzz24ShAhWlk (http://www.nypost.com/p/news/business/donald_fires_suit_at_resort_q3A1I2hCJdxgZ3rsLDDH6H#ixzz24ShAhWlk)
More... (http://www.dr1.com/index.html#13)
The 8,000-acre, oceanfront project was launched in 2007 with sales of the Trump Farallon Estates at Cap Cana, a gated community of 68 lots costing US$3 million to US$12 million each.
Trump alleges that the developers abruptly stopped sending monthly sales reports to his Trump Marks Real Estate firm after the start of the 2008 financial meltdown and Trump states that in May 2009 Cap Cana claimed that it had spent the funds that it had received from buyers and lacked sufficient capital to pay Trump Marks any portion of the license fees which were admittedly owed months earlier.
www.nypost.com/p/news/business/donald_fires_suit_at_resort_q3A1I2hCJdxgZ3rsLDDH6H#ixzz24ShAhWlk (http://www.nypost.com/p/news/business/donald_fires_suit_at_resort_q3A1I2hCJdxgZ3rsLDDH6H#ixzz24ShAhWlk)
More... (http://www.dr1.com/index.html#13)