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Trump expected to testify at Chicago trial (Chicago Tribune)

By Annie Sweeney, Chicago TribuneMcClatchy-Tribune Regional News

May 01--Real estate mogul Donald Trump is expected to be in Chicago this month to testify at a federal trial stemming from a dispute over the sale of two units at Trump Tower.

Attorneys for both sides confirmed Tuesday that Trump is scheduled to testify at the trial set to start May 13. Trump has already given a deposition, according to court records.

This is believed to be the first time Trump will testify at a trial over a lawsuit stemming from the high-rise project, said Alan Garten, executive vice president and litigation counsel for the Trump Organization, who said Trump looks forward to telling his side of the story.

The lawsuit by Jacqueline Goldberg alleged breach of contract and deceptive practices. She contended that Trump Tower changed the terms of sales agreements after she put down a deposit on two hotel units in the riverfront building at 401 N. Wabash Ave.

The lawsuit alleged that Trump Tower backed off plans to let buyers of hotel units share in some of the hotel revenue. Buyers were told that revenue generated in part from ballroom and meeting room rentals could be as high as $5 million a year, the suit says.

Goldberg deposited $516,000 on the hotel units, which she intended to buy as investments because of that revenue-sharing plan and other promised investment incentives, the lawsuit said. But she decided not to complete the sale after the hotel changed the terms, according to the suit.

Goldberg is seeking a return of her deposit and damages in excess of $500,000, according to the suit.

"We view this as classic buyer's remorse," Garten said. "She bought a residential unit and two hotel units and then decided she didn't want the hotel units."


(c)2013 the Chicago Tribune

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