No bidders make offers to buy Trump tower in Toronto

No bidders make offers to buy Trump tower in Toronto

The court-run sale of a downtown Toronto high-rise bearing the name of U.S. President Donald Trump received no initial bids and ownership will likely fall to its main debt holder, a letter from the receiver showed. 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 Inc. But the Trump International Hotel & Tower’s new owner will need to navigate an unresolved dispute over whether they can get out of that arrangement.

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