Exclusive: The Trump Organization is looking for financial help from @DeutscheBank and Palm Beach County in Florida, according to sources and documents reviewed by @nytimes. with @benprotess @EricLiptonNYT nytimes.com/2020/04/02/bus…
Representatives of @Trump @realDonaldTrump reached out late last month to Deutsche Bank to discuss the possibility of reducing or delaying payments on hundreds of millions of dollars of outstanding loans from the bank.
Here's what @EricTrump just told us.
Here's what @EricTrump just told us.
A Trump Org executive in Florida last week contacted Palm Beach County to see whether the company had to keep making lease payments on land it rents from the county for @TrumpPalmBeach.
Under the lease agreement, Trump Org has to pay the county tens of thousands per month.
Under the lease agreement, Trump Org has to pay the county tens of thousands per month.
Deutsche Bank execs have been worried about a scenario like this for years. They told me they’ve feared the choice of angering @realDonaldTrump vs. giving a very lucrative financial gift to the president. Both options are ugly.
It’s unclear if Deutsche Bank or Palm Beach will give a break to the Trump Org. Discussions are ongoing.
The Palm Beach lease has a “force majeure” clause that could give Trump leverage. @realdonaldtrump in the past has used such provisions to try to wriggle out of debts.
The Palm Beach lease has a “force majeure” clause that could give Trump leverage. @realdonaldtrump in the past has used such provisions to try to wriggle out of debts.
As @DeutscheBank and the Trump Org discuss modifying their roughly $350M in loans, one person is going to wield huge power: Rosemary Vrablic.
She is @realDonaldTrump and @jaredkushner's longtime personal banker at Deutsche.
She is @realDonaldTrump and @jaredkushner's longtime personal banker at Deutsche.
Trump Org executives have been talking for weeks with Vrablic about reducing or suspending payments on their loans.
As a senior private banker, Vrablic has broad discretion to do what she thinks is best here. She is very close with the Trump and Kushner families.
As a senior private banker, Vrablic has broad discretion to do what she thinks is best here. She is very close with the Trump and Kushner families.
Vrablic is a fascinating character. She rose through the ranks of a male-dominated industry and came to be regarded as the best private banker in NY. She is extremely media-shy. She's a central figure in my book Dark Towers. harpercollins.com/9780062878816/…
Vrablic at times has felt like she was going to get thrown under the bus by @DeutscheBank for her work with @realDonaldTrump.
So this is what she did.
So this is what she did.
