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Downtown Trump Tower Tampa given lawsuit extension

Posted at October 31st, 2007 11:21 am by Eric Hochberger
Filed under: Developers, Florida Condos, Tampa

The developers of the disastrous Trump Tower Tampa have been granted up to 65 more days to respond to the a lawsuit filed by Donald Trump.

A federal judge granted the Tampa-based developer, SimDag LLC, u pto 65 more days to respond to a lawsuit by Donald Trump to terminate their licensing agreement.

Currently SimDag has been unable to build the 52-story tower in downtown Tampa due to financing problems, construction liens, and lawsuits from buyers who want out of their deposits.

SimDag has secured additional financing from a New York hedge fund, but only if it can come up with $100 million in new contracts.  Additionally, it would require the buyers to sign all new contracts because their current ones expire if the building is not complete by 2008.  An additional stipulation to the financing is the dissolution of the lawsuit by Trump.

You can read more about the Trump Tower at the Tampa Tribune.

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