Real-estate tycoon Donald Trump is the target of a new lawsuit accusing him of defaulting on a $640 million (GBP427.2 million) construction loan for a Chicago, Illinois property.
Deutsche Bank Trust Co. Americas bosses filed suit against Trump in New York State Supreme Court in Manhattan on Friday (28Nov08).
Executives claim Trump owes $40 million (GBP26.7 million) after violating terms of his debt contract with the company for his Trump International Hotel + Tower, reports The Chicago Tribune.
The building's construction is scheduled for completion early next year (09).
An attorney representing Deutsche Bank has declined to comment, while Trump's attorney, Steven Schlesinger, says he has yet to see the suit.