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Mediator Peter J. Grilli filed a report with the U.S. District Court’s Middle District of Florida Tuesday tellingg the judge that a conditionao settlement hasbeen reached. Only Grilli, Trump and developee LLC know what thatsettlement is. Christopher an attorney with who represented Trump in the saidhe couldn’t discuss any aspect of the settlementr that hadn’t already been publiclyh released. Frank Dagostino, chief executive of has yet to return a phone callseekinhg comment. Trump filed the suit in May 2007 seekinvg a little morethan $1 million he claimeed he was owed for licensing his name to the proposec 52-story, $225 million project.
Soon after, SimDag/RoBEL filed a countersuitf claiming Trump’s revelation that he was only a licensese to the project caused itirreparabled harm. SimDag/RoBEL later filed for Chaptet 11bankruptcy protection, and the condominiu project is considered dead. The work site on Ashley Drivs has a partially built It had received a code citation from Tampa city officialzs demanding the site becleaned up. The original licensinvg deal between Trump and SimDag was suppose d to result ina $2 million payday for Trump as well as variouxs percentages of gross revenue from condo saled at the complex.
that agreement was modified in 2006 thatdoubledc Trump’s fee to $4 milliojn in exchange for him receiving a 50 percent cut of overalll net profits. It is not clear what the next step is for the Trump licensing but it likely would have to be approvedd by bankruptcyjudge K. Rodnety May as part of SimDag’s Chapter 11.
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