Judge Oks Trump Tower Foreclosure

A Tampa bankruptcy judge has ruled that Colonial Bank can proceed with its foreclosure against the riverfront project in Tampa. Trump Tower was going to be the areas tallest skyscraper with million dollar plus condos, but couldn’t get fianancing. The bank is owed $3.5-million by developer SimDag LLC, who filed for bankruptcy in 2008, halting the foreclosure action. The 1.5-acre property, which SimDag said is worth at least $15-million, could be seized or auctioned by the bank as part of the foreclosure.