Lawyer Charles Cuprill, who is representing the owner of the Trump International Golf Club in Puerto Rico, told a bankruptcy judge Tuesday that the Republican presidential candidate’s company has signed a confidentiality agreement and has requested information about the assets to be sold in order to conduct due diligence.
“They’re determining if they’re going to have an interest in coming aboard and submitting an alternate bid,” Mr. Cuprill said, according to an audio recording of Tuesday’s proceedings posted to the court docket online.
A representative of the Trump Organization, which allows the golf club to use the Trump name via a licensing agreement but doesn’t own the club, couldn’t immediately be reached for comment Wednesday, nor could Mr. Cuprill.
A $2 million offer from OHorizons Global LLC is the lead bid for the club, which is home to two 18-hole championship golf courses designed by golfer Tom Kite that have hosted the Puerto Rico Open golf tournament. If rival bids are received by the Nov. 16 deadline, an auction will be held on Nov. 23.
Read more: http://www.nasdaq.com/article/trump-organization-weighs-bid-for-puerto-rico-golf-club-20150923-00622#ixzz3mbF4qoY1
Read more: http://www.nasdaq.com/article/trump-organization-weighs-bid-for-puerto-rico-golf-club-20150923-00622#ixzz3mbEgqMxB