The Trump Organization, a real estate conglomerate, has been exploring ways to delay payments on its financial obligations amid the coronavirus outbreak, the New York Times has reported citing its sources
MOSCOW (Pakistan Point News / Sputnik - 03rd April, 2020) The Trump Organization, a real estate conglomerate, has been exploring ways to delay payments on its financial obligations amid the coronavirus outbreak, the New York Times has reported citing its sources.
The company, which owns luxury hotels and golf courses, has been forced to shut most of its property in response to the pandemic and is looking at huge losses, much like the rest of the hospitality industry in the United States.
Trump's representatives contacted Deutsche Bank's New York City branch last month to inquire whether Germany's biggest lender would allow the company to delay payments on hundreds of millions of debt, a person briefed on the talks told the newspaper.
Separately, Palm Beach County officials in Florida were asked whether they planned to continue collecting tens of thousands of dollars in monthly rent for Trump International Golf Club, according to the paper's sources. The Florida governor has ordered many businesses to close to contain the virus.
