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Trump Tower Trial Date On Books For February

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By SHANNON BEHNKEN, The Tampa Tribune

Published: January 11, 2008

Updated: 01/10/2008 10:12 pm

TAMPA - Trump Tower Tampa condo buyers hoping for a quick resolution may be in for a long wait.

U.S. District Judge James Whittemore set a trial date of Feb. 2, 2009, to hear the case Donald Trump filed in May against the developer, SimDag LLC, according to a document filed in federal court this week.

This means SimDag could have more time to persuade a lender to finance the tower.
SimDag chief executive Frank Dagostino did not return phone calls seeking comment, but he told The Tampa Tribune last week that his company was "days away" from obtaining financing for the tower from an unnamed New York hedge fund.

In the meantime, SimDag countersued Trump last week, alleging the real estate mogul breached his contract when he went public with details of his licensing agreement with SimDag.

Dagostino called the lawsuit a legal necessity but said both sides had agreed to drop their lawsuits as soon as financing is granted.

The 52-story Trump Tower Tampa was announced three years ago, but construction on the building has not started. Several condominium buyers have sued, seeking their money back.

In his lawsuit against SimDag, Trump said the developer breached its contract by not moving forward with construction and by not making the payment stipulated in the contract agreement.

Calls to Trump's office were not returned in time for publication.

Whittemore also ordered the parties to select a mediator and inform the court if a settlement is reached.

Reporter Shannon Behnken can be reached at sbehnken@tampatrib.com or (813) 259-7804.

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