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Trump Org asks Deutsche Bank to delay loan payments as coronavirus shutters their properties

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On Thursday, The New York Times reported that the Trump Organization is in talks with a major creditor to delay loan payments, as the coronavirus pandemic has shuttered their properties and their profits have imploded.

“With some of its golf courses and hotels closed amid the economic lockdown, the Trump Organization has been exploring whether it can delay payments on some of its loans and other financial obligations, according to people familiar with the matter and documents reviewed by The New York Times,” wrote David Enrich, Ben Protess, and Eric Lipton. “Representatives of Mr. Trump’s company have recently spoken with Deutsche Bank, the president’s largest creditor, about the possibility of postponing payments on at least some of its loans from the bank.”

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The Trump Organization is reportedly in similar talks with the government of Palm Beach County, Florida, which has leased public land to the company for one of its golf clubs. Neither Deutsche Bank nor Palm Beach County has agreed to anything so far.

Eric Trump, who helps run the company, said, “These days everybody is working together. Tenants are working with landlords, landlords are working with banks. The whole world is working together as we fight through this pandemic.”

Deutsche Bank in particular, according to the Times, may have an incentive to strike a deal.

“Ever since Mr. Trump’s election, Deutsche Bank executives have been fretting about what would happen if he were to default, according to bank officials,” said the report. “Seizing the president’s personal assets would be an unattractive proposition. But opting not to collect on the loans would be the equivalent of an enormous financial gift to Mr. Trump, whose administration wields enormous power over the bank. Deutsche Bank’s operations in the United States are supervised by federal regulators, and the Justice Department has been conducting a criminal investigation of the bank.”

You can read more here.

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Seoul mayor found dead after ‘#MeToo allegations’

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Seoul's outspoken mayor Park Won-soon, long seen as a potential South Korean presidential candidate, was found dead, police said Friday. He was 64.

A former Seoul City employee filed a police complaint -- allegedly involving sexual harassment -- against him on Wednesday.

Park's body was found on a mountain in northern Seoul, police said, hours after hundreds of officers started searching for him.

If Park does prove to have killed himself he would be the highest-profile South Korean politician to do so since former president Roh Moo-hyun, who jumped off a cliff in 2009 after being questioned over corruption allegations involving family members.

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Legal experts weigh in on Supreme Court rulings on Trump’s financial records

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The U.S. Supreme Court, on July 9, handed down two anxiously awaited decisions dealing with access to President Donald Trump’s financial records — one in Trump v. Vancethe other in Trump v. Mazars.

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Megachurch denies throwing ‘COVID-19 parties’ after death of Florida teen

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A Florida megachurch at the center of a major controversy surrounding the death of a local teenager is denying claims that it was throwing "COVID-19 parties."

The Christian Post reports that the First Assembly of God, a church based in Fort Myers, Florida, is denying claims that it held mass gatherings for teenage parishioners in which they were not required to wear face masks or socially distance.

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