Trump Soho Offers Partial Refunds

Started by malthus

about 15 years ago

Posts: 1333

Member since: Feb 2009

Discussion about

http://online.wsj.com/article/SB10001424052748704312504575618960285850190.html?mod=rss_newyork_real_estate "Real-estate attorneys said the move by the Trump SoHo developers, a venture between the Sapir Organization and Bayrock Group, showed concern about the pending lawsuit. "They must think the fraud lawsuit has legitimacy and that they will have to settle for more than 50%," says Pierre E. Debbas, a New York attorney whose former client was given one of these offers."

Response by streetview

about 15 years ago

Posts: 331

Member since: Apr 2008

Maybe, the Rushmore (Extell) should do the same with their 41 holdouts. It might break the back of the current holdouts.

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Response by Riversider

about 15 years ago

Posts: 13572

Member since: Apr 2009

Bad comparison, Trump is looking to prevent people from joining a lawsuit and is offering a carrot at an appropriate time. With Etell/Rushmore the 41 have already joined and the issue is close to resolving(as odd as that sounds).

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Response by streetview

about 15 years ago

Posts: 331

Member since: Apr 2008

Please provide the resolution you are hinting at the Rushmore? Can you be more specific.

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Response by Riversider

about 15 years ago

Posts: 13572

Member since: Apr 2009

running out of appeals...

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Response by streetview

about 15 years ago

Posts: 331

Member since: Apr 2008

The Soho looked at Rushmore and figured it had some of the same issues. Deposits being held, Offering problems, Depositors organized. Looks like the Rushmore provided an outcome Soho wants to avoid.

Trump Soho Offers Partial Refunds

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