Donald Trump Sues Tampa Developers

Donald Trump has filed suit against current and former principals of SimDag/Robel LLC: Frank Dagostino, Robert Lyons, Patrick Sheppard and Jody Simon. According to the suit, they men missed payments of $13,448 apiece as part of a legal settlement over a busted licensing deal.

Trump licensed his name to the proposed 52-story luxury skyscraper in exchange for 50% of the profits. Trump Tower was never built and SimDag lost the riverfront lot to foreclosure in July.

Trump was sued last month by 25 former condo buyers who accuse him of fraudulently claiming he was the developer of the tower.

Judge OKs Trump Tower Tampa Foreclsoure

A Tampa bankruptcy judge has ruled that Colonial Bank can proceed with its foreclosure against the riverfront project in Tampa. Trump Tower was going to be the areas tallest skyscraper with million dollar plus condos, but couldn't get fianancing. The bank is owed $3.5-million by developer SimDag LLC, who filed for bankruptcy in 2008, halting the foreclosure action. The 1.5-acre property, which SimDag said is worth at least $15-million, could be seized or auctioned by the bank as part of the foreclosure.