TORONTO, March 30 An Ontario court judge on
Thursday approved the sale of a downtown Toronto hotel and
condominium high-rise bearing U.S. President Donald Trump's name
to the tower's main debt holder, according to documents posted
on the receiver's website.
The court-run sale of Trump International Hotel & Tower had
received no bids apart from a stalking horse offer of C$298
million by JCF Capital ULC, which bought the C$301 million
($226.11 million) owed on the tower's construction loan last
The court process only indirectly involves Trump, whose
sprawling business empire licenses its brand and manages the
Toronto property on behalf of the developer, Talon International
Representatives for JCF and Talon could not be immediately
reached for comment.
($1 = 1.3312 Canadian dollars)
(Reporting by Solarina Ho; Editing by Richard Chang)