Trump Tower in Chicago Loses Case

[Handmaid for Jesus]

Insurer wins case against Trump Tower in Chicago for their pollution of the Chicago River.
Five years ago, the Illinois attorney general sued the hotel for pumping 20 million gallons a day in and out for its cooling and heating systems — potentially harming fish with higher temperatures.

Chicago's Trump Tower may be on the hook for environmental fines, after court ruling

Trump Tower in downtown Chicago may be on the hook for millions of dollars after a court ruled the hotel’s insurance company does not have to cover the building’s environmental fines.

www.audacy.com

 

[JustOneWay]

Insurer wins case against Trump Tower in Chicago for their pollution of the Chicago River.
Five years ago, the Illinois attorney general sued the hotel for pumping 20 million gallons a day in and out for its cooling and heating systems — potentially harming fish with higher temperatures.

Chicago's Trump Tower may be on the hook for environmental fines, after court ruling

Trump Tower in downtown Chicago may be on the hook for millions of dollars after a court ruled the hotel’s insurance company does not have to cover the building’s environmental fines.

www.audacy.com

I bet trump is tired of winning....

Odds are good trump will not pay the fines.

 

[GreatLakes4Ever]

I bet trump is tired of winning....

Odds are good trump will not pay the fines.

I saw someone in Chicago suggest forgiving the fine if Trump takes his name off of the building.

 

[Handmaid for Jesus]

I saw someone in Chicago suggest forgiving the fine if Trump takes his name off of the building.

That would mean the tax payers would have to foot the bill for cleaning the river.

 

[KCfromNC]

That would mean the tax payers would have to foot the bill for cleaning the river.

Maybe Mexico will pay for it?

 

[ThatRobGuy]

I saw someone in Chicago suggest forgiving the fine if Trump takes his name off of the building.

That seems more like a "teenager spite move"...I'd say make him pay the money.

 

[Handmaid for Jesus]

That seems more like a "teenager spite move"...I'd say make him pay the money.

What I found interesting is it took five years for the insurers to win this case.

 

[ThatRobGuy]

What I found interesting is it took five years for the insurers to win this case.

The more rich the entities are in court cases, the more they have a tendency to drag out for longer than they should.

You look at some of these cases (ranging from thing like white collar crimes...all the way up to serious stuff), they seem to go on forever as to where us "normies" would've had the book thrown at us in short order.

 

[Handmaid for Jesus]

The more rich the entities are in court cases, the more they have a tendency to drag out for longer than they should.

You look at some of these cases (ranging from thing like white collar crimes...all the way up to serious stuff), they seem to go on forever as to where us "normies" would've had the book thrown at us in short order.

I agree. But it isn't fair to us "normies".

 

[Hank77]

You look at some of these cases (ranging from thing like white collar crimes...all the way up to serious stuff), they seem to go on forever as to where us "normies" would've had the book thrown at us in short order.

Us 'normies' don't have the financial means to keep paying clever lawyers to keep a case open. Lawyers will only keep finding ways to delay if they are going to be paid.

 

[Arcangl86]

That would mean the tax payers would have to foot the bill for cleaning the river.

That's not what the fines are for though. They are meant to punish, not repair damage.

 

[comana]

I saw someone in Chicago suggest forgiving the fine if Trump takes his name off of the building.

It would certainly improve the River front.

 

[essentialsaltes]

IRS Audit of Trump Could Cost Former President More Than $100 Million​

The tax agency concluded in its long-running investigation that Trump effectively claimed the same massive write-off twice on his failed Chicago tower.​

The 92-story, glass-sheathed skyscraper along the Chicago River is the tallest and, at least for now, the last major construction project by Trump. Through a combination of cost overruns and the bad luck of opening in the teeth of the Great Recession, it was also a vast money loser.

But when Trump sought to reap tax benefits from his losses, the IRS has argued, he went too far and in effect wrote off the same losses twice.

The issues around Trump’s case were novel enough that, during his presidency, the IRS undertook a high-level legal review before pursuing it. ProPublica and the Times, in consultation with tax experts, calculated that the revision sought by the IRS would create a new tax bill of more than $100 million, plus interest and potential penalties.

The reporting by ProPublica and the Times about the Chicago tower reveals a second component of Trump’s quarrel with the IRS. This account was pieced together from a collection of public documents, including filings from the New York attorney general’s suit against Trump in 2022, a passing reference to the audit in a congressional report that same year and an obscure 2019 IRS memorandum that explored the legitimacy of the accounting maneuver. The memorandum did not identify Trump, but the documents, along with tax records previously obtained by the Times and additional reporting, indicated that the former president was the focus of the inquiry.

It is unclear how the audit battle has progressed since December 2022, when it was mentioned in the congressional report. Audits often drag on for years, and taxpayers have a right to appeal the IRS’ conclusions. The case would typically become public only if Trump chose to challenge a ruling in court.