Company officials spoke to Deutsche Bank, the company’s largest creditor, about delaying the payment of certain loans due to the closure of its hotels and golf courses, according to the Times, citing financial and financial documents. people familiar with the case.
Last week, the company also reportedly discussed with officials in Palm Beach County, Florida whether they should continue to make monthly payments on the county-owned land it leases for one of its golf clubs. , the newspaper reported, although discussions remain preliminary, and it is unclear whether President TrumpDonald John TrumpCampaign Biden: Trump and former vice president will have a phone call on the Esper coronavirus: military personnel could help treat coronavirus patients “if the pressure were to push” Schumer calls a military officer to act as czar of PLUS medical equipmentThe company may delay or reduce future payments.
“These days, everyone is working together,” said the president’s son. Eric TrumpEric Frederick Trump Trump Jr. challenges Hunter Biden to debate on who benefited most from their father’s time at the office Warren makes a surprise appearance in “Saturday Night Live” after quitting the 2020 race New documents show that Trump Organization has billed 8,000 secret services since 2017 PLUS, who is responsible for running the family business, told the newspaper. “The tenants work with the owners, the owners work with the banks. The whole world is working together as we fight this pandemic. “
Like many other businesses deemed non-essential, the Trump Organization has temporarily closed many properties, including its Las Vegas, New York, and Washington hotels, most of its Florida and New Jersey golf clubs, and the club. Mar-a-Lago of Florida. Some individual properties, however, remained open in the absence of specific government instructions to close, the Times reported.
The organization’s Florida Doral complex has closed entirely, while its Washington, D.C. hotel, which it rents to the federal government, remains open, but its restaurant and bar are closed and guests have been minimal.
The Washington Hotel’s search for potential deals to lease new buyers has been put on hold.
Palm Beach County officials are said to be investigating whether the pandemic meets the “force majeure” provision in its 1996 lease and whether it could be used to allow it to delay payments. To add to the uncertainty, a provision in the recently adopted congressional relief package promulgated by Trump prohibits any $ 500 billion in bailout funds for the president or his family.
Hill asked the Trump Organization to comment.