Donald Trump in USD 5.8 Million lawsuit against Cap Cana
(New York Post) – Donald Trump has a message for a bunch of developers in the Dominican Republic: You’re sued!

 

The Donald slapped Cap Cana S.A. and its owners with a $5.8 million-plus suit yesterday for allegedly stiffing him on licensing fees to use his name on the Trump at 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 $3 million to $12 million each.

The orange-haired mogul says he personally appeared at the sales event, and featured the project on the sixth season finale of his TV show “The Apprentice”

But the developers abruptly stopped sending monthly sales reports to his Trump Marks Real Estate firm after the start of the 2008 financial meltdown, Trump charges.

“Even more egregiously, however, in or about May 2009, Cap Cana claimed that it had squandered 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,” the suit says.

Cap Cana didn’t return an email seeking comment.

Dominican Watchdog Note | What could Cap Cana possible say of interest to anybody, they failed and that’s it! Foreign and local property buyers have lost over USD 500 million on TRUMP and Green Village alone in Cap Cana. The show is over, just pack and go home, last man switch off the light please. 

 

 

Desperate property owners in Cap Cana dump their properties at 25- 40% of original price in upcoming auction in September, Let’s see if they will sell anything…..

 

AUCTION September 22, 2012 | 4 Luxury Golf & Ocean Properties, Punta Cana

Includes a Magnificent Caribbean Villa Once Offered for $14.8 Million. Now Selling to the Highest Bidder at or Above $2.5 Million. A spectacular, lender-owned portfolio consisting of 4 properties in the Dominican Republic’s illustrious Cap Cana resort community. Cap Cana, located in the famous Punta Cana regionof the Dominican Republic.

See pictures and full details about the acution and properties

Go back | Date: 26 Aug 2012
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