Trump is suing the developers Irongate LLC, asserting that the developers--Jason Grosfeld and Adam Fisher--filed in their contractual obligation to protect the Trump brand under a licensing agreement. Reports list the suit--filed in the Manhattan Federal Court--as seeking between $40 million and $50 million from Irongate.
Trump had originally pulled out of the project in February citing that the developer had run out of money, but last month was pulled back into the fray when he was named in the lawsuit to recover the condo deposits from future tenants of the proposed Trump Ocean Resort Baja Mexico.
Trump has had his own fair share of trouble over the past year with a pause in construction on the Trump International Hotel and Tower on Palm Jumeirah, the world's tallest skyscraper, disagreements over the Encap project in New Jersey, along with a bankruptcy filing for Trump Entertainment in mid-February.
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