Transcript Of Donald Trump's Deposition 3m3169
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Case 1:09-cv-21406-KMW Document 230-1 Entered on FLSD Docket 06/04/2012 Page 1 of 175
Page 1 1 2
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF FLORIDA
3
_________________________________________
4
TRILOGY PARTNERS LLC, et al.,
5
Plaintiffs,
6 7
-againstSB HOTEL ASSOCIATES LLC, et al.,
8 9
Defendants. Case No. 09-21406-CIV _________________________________________
10 11
November 16, 2011 10:31 a.m.
12 13 14 15
DEPOSITION of DONALD J. TRUMP,
16
taken by Plaintiffs, pursuant to Notice,
17
held at the offices of KRAMER LEVIN
18
NAFTALIS & FRANKEL LLP, 1177 Avenue of the
19
Americas, New York, New York before Wayne
20
Hock, a Notary Public of the State of New
21
York.
22 23 24 25
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Page 2 1 2 3 4 5
A P P E A R A N C E S: BECK & LEE Attorneys for Plaintiffs 66 West Flagler Street Miami, Florida 33130 (305) 789-0072
6 BY: 7 8 9 10 11 12 13
ELIZABETH BECK, ESQ. [email protected]
SHUTTS & BOWEN LLP Attorneys for Defendants SB HOTEL ASSOCIATES LLC ROY STILLMAN BAYROCK GROUP, LLC 1500 Miami Center 201 South Biscayne Boulevard Miami, Florida 33131 (305) 358-6300
14 BY: 15 16 17 18 19 20 21
STEPHEN B. GILLMAN, ESQ. [email protected]
RUSSOMANNO & BORRELLO, P.A. Attorneys for DONALD TRUMP THE TRUMP ORGANIZATION LLC 150 West Flagler Street Miami, Florida 33130 (305) 373-2101 BY: HERMAN J. RUSSOMANNO, ESQ. [email protected]
22 23 24 25
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Page 3 1 2 A P P E A R A N C E S: (Continued) 3 4 5
THE TRUMP ORGANIZATION 725 Fifth Avenue
6 7
New York, New York 10022 BY:
ALAN G. GARTEN, ESQ.
8 9
*
*
*
10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25
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Page 4 1 2
D O N A L D
J.
T R U M P, having
3
been first duly sworn by a Notary Public
4
of the State of New York, upon being
5
examined, testified as follows:
6
EXAMINATION BY
7
MS. BECK:
8
MS. BECK: Exhibit 323.
9
(Whereupon, a document entitled
10
Re-Notice of Taking Deposition
11
was marked Plaintiff's Exhibit 323
12
for identification.)
13
Q.
14 15 16 17 18
document before? A. just see. Q.
I don't know.
Hold on, let me
Not that I know.
No.
Well, this is your deposition
notice.
19 20
Mr. Trump, have you seen this
Are you here pursuant to this re-notice of deposition?
21
A.
Yes, I am.
22
Q.
Are you here in your individual
23
capacity?
24
A.
Yes.
25
Q.
I'm going to direct you to
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D. J. Trump Plaintiff's Exhibit 143 and 142.
3 4
If you can take a look at these two documents, Mr. Trump.
5
A.
Okay.
6
Q.
These newspaper articles talk
7
Yes.
about Mr. Donald Trump.
8
Are they talking about you?
9
A.
Yes.
10
Q.
I understand your son is also
11
named Donald Trump?
12
A.
Yes.
13
Q.
How do we distinguish between
14
you and your son?
15
A.
He's junior.
16
Q.
Can we talk a little bit about
17
your background.
18
about your real estate background multiple
19
times in numerous depositions.
20
to do it for this one.
21 22
I'm sure you've talked
I'd like
When did you start in real estate, Mr. Donald Trump?
23
MR. RUSSOMANNO: I object to the
24
form of the question.
25
A.
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D. J. Trump
2
graduated from college in nineteen -- in
3
the 1970s.
4
Q.
5
Did you start real estate with
your father?
6
A.
Yes.
7
Q.
What company was that?
8
A.
The Trump Organization.
9
Q.
And what did you do when you
10
started real estate with your father?
11
A.
12
buildings.
13
Q.
I built buildings and I ran
What kind of buildings?
14
MR. GARTEN: Elizabeth, would it
15
be easier if we just stipulate to his
16
background?
17
bio.
18 19
We can provide you with a
MS. BECK: I haven't seen his bio.
20
MR. GARTEN: I can provide you
21
with a bio.
22
give you his complete bio.
23 24
We can stipulate -- I can
MS. BECK: I can't stipulate to something I haven't seen.
25
Why didn't you give this to me
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D. J. Trump
2
in advance?
3
If you would like, you can give
4
it to me sometime today and I can get
5
to his background at the end.
6
MR. GARTEN: Great.
7
whole bio there.
8
Q.
9 10
He has his
I understand your attorney will
be giving me some document that contains your biography, Mr. Trump --
11
A.
That's correct.
12
Q.
-- later on.
13
Once I it that into evidence,
14
do you stipulate that all information
15
contained in that document is true?
16
A.
Yes.
17
Q.
Okay.
18
Mr. Trump, did you see this
19
newspaper article, Plaintiff's
20
Exhibit 142, before?
21
A.
No.
22
Q.
Okay.
23 24 25
What is Seabreeze Development, LLC? A.
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D. J. Trump Q.
So you wouldn't be able to say
3
whether it's true that Seabreeze
4
Development, LLC is a t venture
5
between The Trump Organization and Eugene
6
and Stuart Kessler?
7
MR. RUSSOMANNO: Objection to
8
form.
9
A.
10 11 12
know.
No, I don't know.
I just don't
You'd have to ask my lawyers.
Q.
Who are Eugene and Stuart
Kessler?
13
A.
I don't know.
14
Q.
You never talked to Eugene
15 16
Kessler or Stuart Kessler? A.
I don't know.
I don't know
17
their names.
18
just don't know their names.
19
Q.
It could be that I did but I
Does The Trump Organization
20
enter into t ventures with other legal
21
entities?
22
MR. RUSSOMANNO: I object to the
23
form of the question.
24
A.
Sometimes.
25
Q.
And how does that happen; who
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D. J. Trump makes the decision? A.
Different people in my
4
organization make that decision or I'd
5
make that decision.
6 7
Q.
When you say your organization,
do you mean The Trump Organization?
8
A.
Yes.
9
Q.
If other people in your
10
organization makes that decision, do they
11
do it with your approval and/or sanction?
12
A.
Generally, yes.
13
Q.
Okay.
14 15 16 17
When would that not be the case? A.
that's not the case. Q.
18 19
I don't know of any case where
Okay. This article talks about Trump
Las Olas.
20
A.
Right.
21
Q.
Does that sound familiar to you?
22
A.
Yes.
23
Q.
Can you talk a little bit about
24
that project.
25
Did that project happen?
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D. J. Trump A.
I don't believe that project
3
happened.
4
small project in the Fort Lauderdale area
5
that I don't believe happened.
6
Q.
7 8 9 10 11
That was a project that -- a
Okay. Why didn't it happen?
A.
The timing of the project.
I
think the market crashed prior to development. Q.
And the people involved and the
12
entities involved with Fort Lauderdale
13
Trump Las Olas did not anticipate the
14
crash?
15
MR. RUSSOMANNO: I object to the
16
form.
17
A.
I don't think anybody
18
anticipates crashes, unfortunately.
19
they didn't anticipate the crash.
20 21
Q.
No,
Bayrock Group, LLC, does that
sound familiar to you?
22
A.
Yes.
23
Q.
Who are they?
24
A.
They're a developer.
25
Q.
What is your involvement with
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D. J. Trump Bayrock Group, LLC?
3
MR. RUSSOMANNO: I object to the
4
form.
5
A.
Limited involvement.
They are a
6
developer, fairly large scale developer,
7
and sometimes they will come to us for
8
like a licensing deal or something on a
9
building that they would develop.
10
was the case in Fort Lauderdale.
11
Q.
12
yours?
13
A.
14 15 16 17 18 19
22 23 24 25
Were they also a tenant of
They were a tenant for a period
of time in one of my buildings. Q.
Is that the building located at
725 Fifth Avenue? A.
Yes.
They were a tenant for a
period of time at 725 Fifth Avenue. Q.
20 21
That
Okay. They were a tenant of The Trump
Organization? A.
Yes.
of the building. Q.
Well, they were a tenant Yes.
You mentioned that your
organization entered into a licensing deal
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D. J. Trump with Bayrock?
3
A.
Yes.
4
Q.
What licensing deal was that?
5
MR. RUSSOMANNO: I object to the
6
form.
7
A.
Well, I think it was a building
8
that we're talking about, the building in
9
Fort Lauderdale.
10
Q.
Trump Fort Lauderdale?
11
A.
Yes.
12
Q.
Any others?
13
A.
Yes, we did a licensing deal in
14
SoHo.
15
Q.
Okay.
16
A.
Which is a beautiful building,
17
completed, very nice building.
18
licensing deal -- we may have done another
19
one.
20
records.
21
Lauderdale.
I'm not sure.
We did a
I'd have to check my
I think SoHo and Fort
22
Q.
Phoenix?
23
A.
We looked at Phoenix but the
24
market crashed before the deal ever got
25
built.
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D. J. Trump Q.
Okay.
3 4 5
But a contract was entered into for Phoenix? A.
I don't know if it was entered
6
into.
7
and then ultimately we didn't do the job.
8
So it may have been entered but we never
9
built the job.
10
I know the market was getting bad
Q.
You mentioned that you entered
11
into a licensing -- well, SoHo, that's a
12
condo hotel in Manhattan?
13
A.
Yes.
14
Q.
How many units does SoHo have?
15
A.
I'd say probably it has around
16 17 18
four hundred units. Q.
How did your organization get
involved with Bayrock?
19
MR. RUSSOMANNO: I object to the
20
form.
21
A.
They really called a long time
22
ago about doing some developments
23
together.
24
companies.
25
some developments together and I believe
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We are involved with many, many But Bayrock called about doing
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D. J. Trump
2
this was the first one, the one in Fort
3
Lauderdale, and we made a deal to do some
4
licensing.
5
they were going to be the developer at the
6
time, but we made a deal to do a license.
7
Q.
They were the developer or
When you say they, are you
8
talking about Mr. Tevfik Arif I believe
9
his name is?
10
A.
I don't know who owns Bayrock.
11
I've never really understood who owned
12
Bayrock.
13
that's done quite a bit of work, but I
14
don't know how they have their ownership
15
broken down.
16
Q.
I know they're a developer
Who at Bayrock did The Trump
17
Organization interface with; who did they
18
talk to?
19 20
A.
I would say it would be Julius
or -- mostly Julius.
21
Q.
Mr. Julius Schwarz?
22
A.
Yes, mostly Julius.
23
Q.
Is your belief, Mr. Trump, that
24
it's Julius Schwarz who's the ultimate
25
decision-maker of Bayrock Group?
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D. J. Trump
2 3
MR. GILLMAN: Objection to form. A.
He's certainly one of them.
I
4
mean, we've had a very good relationship
5
with Julius.
6
big decision-makers, yes, and he has been
7
for quite a while.
8 9
Q.
He's certainly one of their
Did you ever speak with Mr.
Tevfik Arif in your life?
10
A.
Yes, I did.
11
Q.
Did you ever travel with him?
12
A.
No.
13
Q.
Did you ever speak with Mr. Arif
14
prior to speaking with Mr. Schwarz?
15
MR. RUSSOMANNO: I object to
16
form.
17
A.
I don't know.
18
about many years.
19
it's possible.
20
well, Mr. Arif.
21
times.
22
Q.
23 24 25
You're talking
I really don't know but
I don't know him very I've met him a couple of
I understand. You mentioned that SoHo was a
licensing deal? A.
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D. J. Trump Q.
3
What does that mean? MR. RUSSOMANNO: I object to the
4
form of the question.
5
A.
We license the building, we
6
license the name Trump -- it's called
7
Trump SoHo -- and we also happen to manage
8
the building.
9
condominium.
It's a hotel.
It's a hotel
We manage the building and
10
they use our name.
11
building.
12
entities.
We didn't develop the
It was developed by different
13
Q.
Are you talking about Bayrock?
14
A.
Bayrock I believe was the
15 16 17 18 19 20
primary developer, yes. Q.
developed it along with Bayrock? A.
Yes, Sapir, the Sapir
Organization. Q.
21 22
And other entities also
Oh, yes. Are there any units at Trump
SoHo that are not hotel rooms?
23
MR. RUSSOMANNO: I object to the
24
form.
25
A.
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D. J. Trump Q.
Does your organization currently
manage the Trump SoHo Hotel?
4
A.
Yes.
5
Q.
How does your organization get
6
paid?
7
MR. RUSSOMANNO: I object to the
8
form of the question.
9
A.
We get a management fee.
10
Q.
Is that a flat annual fee?
11
A.
I don't think so.
It's based on
12
-- I think it's based on gross revenues.
13
I'm not sure.
14
think it's based on gross revenues.
I could check it but I
15
Q.
I think gross revenues of?
16
A.
Of the hotel.
17
Q.
Rooms?
18
A.
Rooms.
19 20 21
But I'd have to check.
But I think so. Q.
Do you manage all the hotel
rooms in Trump SoHo?
22
A.
Pretty much, I think.
23
Q.
There's no room that a unit
24
owner rents out on their own and doesn't
25
use your company to manage?
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D. J. Trump A.
3
Not that I know of. MR. RUSSOMANNO: I object to the
4
form of the question.
5
Q.
6
If you look at Plaintiff's
Exhibit 143, Mr. Trump.
7
A.
Yes.
8
Q.
There's a -- have you ever
9 10 11
spoken with a gentleman by the name of Felix H. Sater or Satter? A.
12
Yes. MR. RUSSOMANNO: I object to the
13
form of the question.
14
Q.
15
On how many times did you speak
with him?
16
MR. RUSSOMANNO: Form.
17
A.
For a period of time.
18
Q.
Why did you speak with him?
19 20 21 22 23
MR. RUSSOMANNO: Form. A.
He was
an executive with Bayrock. Q.
Did you speak with him in
connection with Trump SoHo?
24 25
He worked for Bayrock.
MR. RUSSOMANNO: Form objection. A.
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D. J. Trump
2 3
Q.
What about the Fort Lauderdale
project?
4
A.
Probably.
5
Q.
Okay.
6
There's a quote in Plaintiff's
7
Exhibit 143, Mr. Trump -- I think it's on
8
the second page -- it says here, "Mr.
9
Trump also said he was surprised to learn
10
of Mr. Sater's past" and it quotes you as
11
saying, "we never knew that.
12
much of a background check as we can on
13
the principals.
14
very well."
15 16
We do as
I didn't really know him
Is that an accurate quote from you?
17
MR. RUSSOMANNO: Objection to the
18
form.
19
A.
Yes.
20
Q.
What were you referencing there?
21
A.
I don't know.
I don't know him
22
from the past.
23
of his past.
24
him.
25
only knew him as a person that worked for
212-267-6868
I would have no knowledge They wrote a story about
I didn't know him from the past.
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D. J. Trump Bayrock. Q.
So the statements about Mr.
4
Sater in this article, that is what you
5
are referencing when you say we never knew
6
that?
7
MR. RUSSOMANNO: I object to the
8
form.
9
A.
I don't know if the statements
10
are true or not, but I didn't know
11
anything about his background.
12
Q.
13
At the time you made the quote? MR. RUSSOMANNO: Objection to
14
form.
15
A.
Yes, that's right.
16
Q.
Okay.
17 18
After this article came out, did you continue to work with Mr. Sater?
19
MR. RUSSOMANNO: I object to the
20
form.
21
A.
22 23
I think he left Bayrock sometime
fairly soon after the article came out. Q.
You mentioned that Bayrock was a
24
developer of Trump SoHo.
25
is a developer of the Trump SoHo.
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D. J. Trump
2
Trump Organization is a licensor of the
3
Trump SoHo; is that correct?
4
A.
Correct, and the management
5
company, the company that manages the
6
building after it's built.
7
build the building and we didn't sell the
8
building.
9
building Trump SoHo or selling it.
We didn't
We weren't responsibile for We
10
were only responsible for managing it
11
after it was built, and that's what we do.
12 13
Q. building?
14
MR. RUSSOMANNO: I object to the
15
form.
16
A.
17 18
How do you define building a
Constructing the building,
construction. Q.
19
How do you define that? MR. RUSSOMANNO: Form.
20
A.
You must be kidding; right?
21
Q.
No.
22
A.
Are you kidding with that
23
question?
24
Q.
No.
25
A.
Building the building, putting
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D. J. Trump
2
the concrete up, putting the curtain wall
3
on, building the rooms, completing --
4 5 6
Q.
Aren't they done by
subcontractors? A.
That's done by general
7
contractors and subcontractors and the
8
developer.
9
developer.
10
Q.
11 12
As I told you, I'm not the
I understand that. You have developed projects
before in your life?
13
A.
Yes, I have.
14
Q.
Please let me finish my
15
question, Mr. Trump.
16
record.
17
here but so am I.
18
A.
I know you're eager to get out of
I think they're stupid questions
19
you're asking me.
20
very stupid questions.
21
Q.
We want a clear
I think you're asking
Well, I'm sorry that you find my
22
questions stupid, but I'd like to get
23
information about this case.
24
A.
Fine.
25
Q.
Thank you.
212-267-6868
Go ahead.
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D. J. Trump
2 3
Do you need a break, Mr. Trump? A.
No.
4 5
Do you need a break? Q.
No, I don't.
6
MR. GARTEN: You can go.
7
A.
8
doing?
9
Q.
Do you even know what you're Let's go.
Ask the questions.
Building the building, you
10
mentioned that -- you talked about
11
concrete; right, building bricks?
12
developer, would you consider a developer
13
a person who manages the contractor?
Now, a
14
A.
Yes.
15
Q.
If a person only manages the
16
contractor, is that person a developer?
17
MR. GILLMAN: I object to form.
18
MR. RUSSOMANNO: I object to
19
form.
20
A.
21
Yes. MR. GILLMAN: Do we have the same
22
stipulation that an objection of one
23
is for all?
24
MR. BECK: That's fine.
25
MS. BECK: That's fine.
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D. J. Trump A.
It's part of the development
process. Q.
And what about selling?
What
5
about if a person manages a sales force
6
that does the selling, are they a
7
developer?
8
A.
9 10
It's a part of the development
process. Q.
I just want to make a
11
distinction between actually laying down
12
concrete versus managing a company that
13
lays down the concrete.
14
MR. RUSSOMANNO: I object to the
15
form.
16
Q.
Is it your testimony, Mr. Trump,
17
that you have to actually lay down the
18
concrete to be a developer?
19
MR. GILLMAN: Objection.
20
MR. RUSSOMANNO: I object to the
21
form.
22
A.
23 24 25
To be a developer, you have to
build the building. Q.
Or manage other people that
build the building?
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D. J. Trump
2
A.
Correct.
3
Q.
How do you define manage?
4
MR. RUSSOMANNO: I object to the
5
form.
6
A.
7
You would supervise the
construction of the building.
8
Q.
Exercise control?
9
A.
Yes.
10
Q.
What was your understanding of
11
the different roles of Bayrock versus
12
Sapir in connection with Trump SoHo?
13
MR. RUSSOMANNO: I object to the
14
form.
15
A.
I had no understanding.
We were
16
managing the hotel and we licensed the
17
name.
18
development.
19
the developer along with Sapir or
20
separately from Sapir.
21
them that question.
22
Q.
23 24 25
We weren't involved with the I believe that Bayrock was
You'd have to ask
Okay. What was The Trump
Organization's role in Trump SoHo? A.
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D. J. Trump
2
We managed the building and we licensed
3
the name.
4
Q.
So the role of The Trump
5
Organization and Trump SoHo involved --
6
let me get this straight, you gave
7
permission for the Trump name to be used?
8
A.
I licensed the name.
9
Q.
Under a license agreement?
10
A.
Correct.
11
Q.
And then after the building was
12
up and topped off, you then came in and
13
managed the hotel; is that correct?
14
A.
That is correct.
15
Q.
Is that the universe of
16
responsibilities which you and your
17
organization had in connection with the
18
Trump SoHo?
19
MR. RUSSOMANNO: I object to the
20
form.
21
A.
Pretty much.
22
Q.
Okay.
23
What can you tell us about the
24
Trump standards?
25
standards?
212-267-6868
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D. J. Trump
2 3
MR. RUSSOMANNO: Form. A.
We have a high standard.
We
4
have a standard as to kitchen qualities,
5
we have a standard as to windows and
6
quality of windows, quality of
7
construction, quality of sound.
8
hotel, quality of the furniture, et
9
cetera.
If it's a
We have a standard that's a high
10
standard in accordance with other hotel
11
companies that do similar kinds of things
12
that are high quality.
13
Q.
14
Yes, sir. There's -- I believe you
15
referenced some properties.
16
Trump developments in the past which you
17
reference in I believe the license
18
agreement but I'm not too sure as setting
19
the standard for meeting the Trump
20
standards.
21
I believe the
MR. RUSSOMANNO: Objection.
22
A.
It's possible.
23
Q.
I just don't what those
24
properties were, but I believe one was in
25
Chicago.
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D. J. Trump
2
MR. RUSSOMANNO: I object to the
3
form.
4
Q.
5
signature properties?
6
Can you list them?
MR. RUSSOMANNO: Objection to
7
form.
8
A.
9
Could you describe some of those
I don't know what this has to do
with our lawsuit, but I certainly will
10
give you a couple.
11
Central Park West would be the two primary
12
examples.
13
Q.
Chicago, New York on
If a building meets the standard
14
of luxury set by the two examples you
15
gave, would that be meeting the Trump
16
standards?
17
MR. GILLMAN: Objection to form.
18
MR. RUSSOMANNO: Form.
19
A.
Generally speaking, yes.
20
Q.
I'm going to now -- well,
21
they've already been introduced but
22
Exhibits 124, 128, 129, and 130.
23
A.
Go ahead.
24
Q.
Have you seen any of these
25
documents before?
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D. J. Trump
2
A.
I don't believe so.
3
Q.
For the Trump Fort Lauderdale
4
project, which is the entity that licensed
5
your name from The Trump Organization?
6 7
A.
You'd have to ask
my lawyers.
8
Q.
9 10
I don't know.
Okay. Were these documents created
with The Trump Organization's approval?
11
MR. RUSSOMANNO: I object to the
12
form.
13
A.
These documents?
14
Q.
Yes, sir.
15
A.
I don't know, you'd have to ask
16
my lawyers.
17 18
Q.
I just don't know.
Well, sitting here today, do you
approve of them?
19
MR. RUSSOMANNO: I object to the
20
form.
21
A.
Would you like me to read them
Q.
Yes.
22 23 24
all? They have a lot of
pictures.
25
MR. RUSSOMANNO: I object to
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D. J. Trump form.
3 4
Strike the last comment. MS. BECK: Motion denied.
A.
5
They look like very -MR. RUSSOMANNO: Counsel, there's
6
no reason for you to act as the court
7
about motion being denied.
8
uncalled for.
It's
9
And so let me just put on the
10
record now because again, I haven't
11
been with you at a deposition.
12
Pursuant to Rule of Civil
13
Procedure 30(d)(3)(a), it provides
14
that any time during a deposition the
15
deponent or a party may move to
16
terminate or limit the deposition on
17
the ground that it's being conducted
18
in bad faith or in a matter that
19
unnecessarily annoys, embarrasses, or
20
oppresses the deponent or the party.
21
If the objecting deponent or party so
22
demands, the deposition must be
23
suspended to obtain an order.
24
then finally, as far as for the
25
Southern District local
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D. J. Trump
2
Rule 30.1(a)(5), the paragraph also
3
provides that if questioning unfairly
4
humiliates, intimidates, harasses, or
5
embarrasses the deponent or invades
6
his privacy absent a clear statement
7
otherwise, we can also terminate.
8 9
So first, I didn't understand any comments to be made that it isn't
10
in the form of a question.
11
going to do it to you.
12
understand that.
13
indicated he hadn't seen them.
14
asked him to look at.
15
enough to do it and then with pictures
16
and comments and again with motion
17
being denied, I just don't know what
18
the reason of that is.
19
just tell me why either of us -- you
20
would be ruling it as a judge.
21
don't understand it, counsel.
22 23
So I don't
The deponent also You
He was kind
If you can
I just
MS. BECK: I think you moved to strike which is improper.
24 25
I'm not
MR. RUSSOMANNO: And you said motion was denied.
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D. J. Trump
2
suspend it.
3
I haven't been in the room with you.
4
We're not going to either of us act as
5
the judge.
6 7
All I'm saying to you is
MS. BECK: I understand.
I note
your comments.
8
Can we move on, Mr. Russomanno?
9
MR. RUSSOMANNO: If we're going
10
to go by the regular rules of
11
depositions and we won't make comments
12
and we won't act as if either of us
13
are the judge.
14
are, in fairness, counsel, to you, if
15
they're related to the lawsuit,
16
certainly that's why Mr. Trump is
17
here.
18
bit unrelated to the lawsuit and it
19
doesn't need to be peppered with
20
comments about whether this is proper
21
or not.
22
And if the questions
But there seems to be quite a
We're here to proceed, but we
23
want to cover the questions that the
24
lawsuit entails based upon your second
25
amended complaint.
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D. J. Trump
2
MS. BECK: Yes, sir.
3
THE WITNESS: Let's go.
4 5
Q.
Have you looked at these four
exhibits before you now, Mr. Trump?
6
A.
Yes.
7
Q.
Okay.
8 9
Thank you.
Sitting here today, do you approve of these documents?
10
MR. RUSSOMANNO: I object to the
11
form.
12
A.
I don't know.
I didn't see them
13
at the time.
14
the building was built.
15
were issued long before the actual
16
building was built.
17
documents that have nothing to do with
18
your lawsuit that were long before Mr.
19
Stillman came in, Roy Stillman came in as
20
the developer.
21
different not only document, it's a very
22
much different building.
23
building is almost unrecognizable from
24
what was built.
25
Q.
212-267-6868
I think this was long before These documents
These are old
This was a very much
In fact, the
Do you know from when these VERITEXT REPORTING COMPANY www.veritext.com
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D. J. Trump documents were made?
3
MR. RUSSOMANNO: I object the
4
form.
5
A.
I just know it was long before
6
the building was built.
It has nothing to
7
do with it.
8
it's a different picture from the building
9
that was built, and it was before Mr.
It's a different building,
10
Stillman came in as the developer of the
11
project.
12
Q.
Before Mr. Stillman came in as
13
the developer of the project, what was
14
your involvement with the project at that
15
time?
16
MR. RUSSOMANNO: Form.
17
A.
We were thinking of being the
18
developer, but it was very preliminary.
19
We were thinking about doing it in
20
conjunction with Bayrock, but that was
21
very preliminary.
22
it.
23
and the development to, in some form --
24
you'd have to ask them what that form
25
was -- to Mr. Stillman and our only
Ultimately we didn't do
Bayrock decided to sell the project
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D. J. Trump
2
involvement was licensing.
We were
3
licensing and we were going to run the
4
hotel.
5
Q.
So for the four exhibits before
6
you, at this point in time The Trump
7
Organization and Bayrock Group I guess
8
were considering being a developer of this
9
project at that time?
10
A.
I think so.
You'd have to tell
11
me what the time was because I don't see
12
any date on these papers.
13
long before the ultimate development was
14
developed.
15
Q.
16 17
But this was
Do you know why these documents
may have been prepared? A.
Because I think Bayrock was
18
thinking about building this building
19
before a developer came along and
20
purchased the project.
21
Q.
22
Yes. And do you know for whom -- you
23
think these documents were prepared by
24
Bayrock?
25
MR. RUSSOMANNO: I object to the
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D. J. Trump
2
form.
3
A.
4 5 6
Q.
So you think that Bayrock prepared these documents? MR. RUSSOMANNO: Objection to the
10
form.
11
A.
13 14
That's not his testimony. I don't know who prepared them.
It's possible that Bayrock did it. Q.
Do you know why these documents
were prepared, who the audience is?
15 16
These are obviously artistic
renditions.
9
12
Again, it's so long
ago that the picture's even different.
7 8
I think so.
MR. RUSSOMANNO: Form. A.
I think they were thinking about
17
developing the project and then when Mr.
18
Stillman came along, he took over all of
19
the development.
20 21
Q.
Do you think these were prepared
for lenders --
22
MR. RUSSOMANNO: Object to form.
23
Q.
-- or construction finance?
24
A.
I don't know, you'd have to ask
25
Bayrock.
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D. J. Trump
2
Q.
Did you ever see PowerPoints
3
such as the documents before you, not in
4
hard copy but as PowerPoint presentations?
5 6 7
A.
I'm not sure.
Q.
Exhibit 133.
ago.
8 9
You've seen this document before; yes?
10 11
It's a long time
MR. RUSSOMANNO: I object to the form of the question.
12
Take a look at it.
13
A.
Yes.
14
Q.
This is the operating agreement
15
of Stillman Bayrock Merrimac, LLC; yes?
16
A.
Yes.
17
Q.
And that is your signature?
18
A.
Yes.
19
Q.
On page thirty-six?
20
A.
Yes.
21
Q.
When I see your signature, Mr.
22
Trump, do you personally sign that with
23
your hand or is that sometimes a stamp?
24
A.
I sign it with my hand.
25
Q.
Always?
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D. J. Trump
2
A.
Yes.
3
Q.
What is Trump Lauderdale
4 5 6
Development II, LLC? A. that --
7
MR. RUSSOMANNO: Objection to
8
form.
9
A.
10
I believe that's the company
-- we used to enter into the
agreement with Mr. Stillman and Bayrock --
11
Q.
And the Motwanis?
12
A.
-- for the licensing.
13
I'm not sure what they are.
14
the licensing of this particular
15
development.
16 17
Q.
For
This is not the licensing
agreement though; is it?
18
A.
I don't know if it is or not.
19
Q.
Could you take a look and --
20
A.
I don't know.
21
Q.
Okay.
22
A.
You'd have to ask my lawyers.
23
don't know.
24
licensing agreement but maybe it's
25
something else.
212-267-6868
I
I assumed it was the
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D. J. Trump Q.
Mr. Trump, how was you or any
3
organization that you control going to get
4
paid on the Trump International Hotel and
5
Tower project in Fort Lauderdale?
6
MR. RUSSOMANNO: I object to the
7
form.
8
A.
9 10
You'd have to ask my
ants. Q.
11
Did you get paid? MR. RUSSOMANNO: I object to the
12
form.
13
A.
I don't know.
I think they paid
14
us something, yeah, up front for the
15
licensing.
16
number is.
17
Q.
18
But I'm not sure what the
I'm going to ask you if you can
turn to page thirty-three.
19
When The Trump Organization,
20
either directly or through any of its
21
entities, enters into a licensing deal for
22
the project, presumably it negotiates fees
23
for --
24
A.
Yes.
25
Q.
-- somebody else's privilege of
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D. J. Trump using the Trump license; is that correct?
3
A.
4
Correct. MR. RUSSOMANNO: Objection.
5
Q.
Who negotiates those ?
6
A.
Different people.
7
Q.
Such as?
8
A.
Ivanka Trump, Don Trump, Eric
9
Trump.
10
Q.
Your three children?
11
A.
Yeah.
Sometimes myself.
It
12
depends on who's doing the deal or what
13
the deal is.
14
Q.
And once those are
15
hammered out, your attorneys take over and
16
create the documents?
17
A.
Well, documents are created
18
sometimes by the other side, sometimes by
19
us.
20 21
Q.
On page thirty-three it says
fees.
22
A.
Right.
23
Q.
Did Trump Lauderdale Development
24
II, LLC, were they supposed to get a
25
percentage of all the hard and soft costs
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D. J. Trump
2
associated with construction of the Fort
3
Lauderdale project?
4
MR. RUSSOMANNO: I object to the
5
form.
6
A.
I don't know.
7
Q.
Who negotiated how The Trump
8
Organization and its legal entities would
9
get paid under the Trump International
10 11 12 13
Hotel and Tower project? A.
I think it was Don Trump,
Junior, my son. Q.
You don't have any knowledge as
14
to how much money is going to come in from
15
that project?
16
MR. RUSSOMANNO: I object to the
17
form.
18
A.
Not a great deal.
I mean, I
19
think that my son -- I believe my son, Don
20
Trump, Junior, handled it.
21
schedule of payment.
22
handled by my son.
23
Q.
There's a
But I believe it was
Does it surprise you to read
24
this, as you sit here today, that the
25
class B member shall receive compensation
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D. J. Trump
2
for its services hereunder in an amount
3
equal to one and a half percent of all
4
hard and soft costs of construction of the
5
project?
6
MR. RUSSOMANNO: I object to the
7
form of the question.
8
A.
No.
9
Q.
What does that mean?
10
MR. RUSSOMANNO: I object to the
11
form.
12
Q.
13
What do you understand that to
mean?
14
MR. RUSSOMANNO: Form.
15
A.
Just what it says.
16
Q.
So if -- well, what are hard
17
costs?
18
A.
It's the construction costs, the
19
concrete and the brick and mortar, et
20
cetera.
21
Q.
What are soft costs?
22
A.
The financing costs and various
23
other costs.
24
Q.
Advertising?
25
A.
Yeah.
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D. J. Trump
2
Q.
Legal fees?
3
A.
That would be a soft cost.
4
Q.
Was the Trump Lauderdale
5
Development II, LLC paid this one and a
6
half percent of the hard and soft costs?
7
MR. RUSSOMANNO: I object to the
8
form of the question.
9
A.
10
I don't know.
You'd have to ask
my ant.
11
Q.
Who is your ant?
12
A.
Allen Weisselberg.
13
Q.
Do you know how long he's been
14
with your company?
15
A.
Yes, over thirty years.
16
Q.
And he would be able to testify
17
as to what moneys flowed into the Trump
18
Organization and its s --
19
A.
Yes.
20
Q.
-- for this project?
21
A.
Yes.
22
Q.
If you go to the next page,
23
which is page thirty-four, it says, "an
24
amount of $960,000 shall be paid to the
25
class B member."
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D. J. Trump
2 3
Do you know if this amount was paid?
4
MR. RUSSOMANNO: I object to the
5
form.
6
A.
I don't know.
Didn't I already
7
tell you you'd have to ask my ant?
8
I just told you you'd have to ask my
9
ant.
10
Q.
Mr. Trump, is it your testimony
11
that you personally don't know if any
12
money was made from the Fort Lauderdale
13
deal by The Trump Organization and/or its
14
s?
15
MR. RUSSOMANNO: Objection to
16
form.
17
A.
Relatively very little money.
18
And certainly after everything is finished
19
probably no money.
20 21 22 23 24 25
Q.
I understand.
I read the
agreements. A.
What are you asking me the
questions for if you understand? Q.
You said very little money but I
want to know what was paid and what was
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D. J. Trump not paid. A.
ant. Q.
6 7
I told you you'd have to ask my
I understand that. Exhibit 243.
A.
Go ahead.
It takes a long time
8
between questions, I'll tell you that.
9
Obviously it's harassment.
10
MS. BECK: Court reporter, if you
11
would like, you can note the time in
12
between questions.
13
with putting that in the record.
14
Q.
15 16
You might want to take a look at
that document, Mr. Trump. A.
17 18
It's very long.
I've done it. MR. GARTEN: Elizabeth, do you
want this copy?
19
MS. BECK: Thank you so much.
20
Thank you.
21
Q.
22 23
I have no problems
Okay. Mr. Trump, is that your
signature on --
24
A.
Yes.
25
Q.
-- 1533?
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D. J. Trump
2
A.
Yes.
3
Q.
Do you g this
4
letter?
5
A.
No.
6
Q.
Do you know what the letter is?
7
A.
It's a letter to Corus Bank.
8
Q.
Okay.
9
MR. RUSSOMANNO: I object to the
10
form.
11
Q.
12
Do you know why you signed it? MR. RUSSOMANNO: I object to the
13
form.
14
A.
I don't, I don't.
15
Q.
You don't recollect g it?
16
A.
No.
17 18 19 20 21
I believe was this before Stillman? Q.
everywhere. A.
22 23
No, I see his signature
I'm not asking that question. I'm saying was this letter sent
before Stillman entered the partnership?
24
Q.
What partnership?
25
A.
Before Stillman entered a
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D. J. Trump
2
partnership with -- a partnership or
3
whatever their relationship with respect
4
to Bayrock.
5
in reference.
I'm just asking for a point
6
Q.
It's dated December 15, 2006.
7
A.
And when did Stillman enter an
8 9 10 11
agreement with Bayrock? Q.
Are you talking about
Plaintiff's Exhibit 133? A.
No, I'm just asking that simple
12
question, when did Stillman enter their
13
agreement with Bayrock?
14
Q.
I don't know.
15
A.
Okay.
16
Q.
But I understand Mr. Stillman --
17
somebody signed it on behalf of him on
18
page TMP --
19 20 21
A.
That would mean that he had
already entered. Q.
-- 1535 and that would mean the
22
partnership you referenced earlier was
23
already entered?
24
A.
25
Correct. MR. GILLMAN: Objection to form.
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D. J. Trump Q.
You don't know why you signed
this? A.
5
No, I don't. MR. RUSSOMANNO: Objection to the
6
form.
7
Q.
Mr. Trump, your signature is on
8
more than one occasion in this exhibit.
9
Are they all your signatures?
10
A.
Yes, they are.
11
Q.
Exhibit 244.
12
A.
Okay.
13
Q.
Mr. Trump, did you sign this
14
I have it.
document?
15
A.
Yes.
16
Q.
What is it?
17
A.
It's a subordination agreement.
18
Q.
And what was the purpose of this
19
document?
20
MR. RUSSOMANNO: I object to the
21
form.
22
A.
23 24
To subordinate our management
contract to the bank. Q.
25
Why? MR. RUSSOMANNO: I object to the
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D. J. Trump
2
form.
3
A.
Because the -- in case of
4
trouble, the bank doesn't want to have a
5
management agreement get in their way.
6
Q.
They want to be paid first?
7
A.
I don't know about being paid
8
first.
9
having a management agreement in their
10 11 12
They don't want to be stymied by
way. Q.
Why would a management agreement
stymie the bank?
13
MR. RUSSOMANNO: Objection to
14
form.
15
A.
Because they may want to
16
terminate the agreement.
17
always ask for lots of rights, they'll
18
always ask for subordination.
19
Q.
A bank will
When you say management
20
agreement, you're talking about the hotel
21
management agreement?
22 23 24 25
A.
Yes, I believe so.
I believe
this relates mostly to that. Q.
If you did not sign this, would
the bank, Corus Bank, not give money?
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D. J. Trump
2
MR. RUSSOMANNO: Objection to
3
form.
4
A.
I don't know, you'd have to ask
5
Corus Bank.
6
very standard.
7
Q.
I have no idea.
But it's
Was it your understanding that
8
when you signed Plaintiff's Exhibit 244,
9
the project would not get financed unless
10
you did so?
11
MR. RUSSOMANNO: I object to
12
form.
13
A.
No, but I think it's very
14
standard language to have this.
We're a
15
team player.
16
to sign subordination agreements to banks.
17
In virtually all deals it's done that way.
It's very standard language
18
Q.
Exhibit 198, 199, and 200.
19
A.
Okay.
20
Q.
You've seen this document
21
I'm ready.
before; yes?
22
A.
Yes.
23
Q.
This is the licensing agreement
24
between yourself and Bayrock Merrimac,
25
LLLP that licenses your name to the Fort
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D. J. Trump Lauderdale project; is that correct?
3
A.
That is correct.
4
Q.
And then there's two amendments
5
to this agreement which are the other two
6
exhibits?
7
A.
Right.
8
Q.
Okay.
9
Do you negotiating how
10
you would get paid under this license
11
agreement?
12
MR. RUSSOMANNO: I object to the
13
form.
14
A.
No.
15
Q.
Did you negotiate the fees under
16
this agreement and the amendments?
17
A.
I didn't do it personally, no.
18
Q.
It was your son?
19
A.
Yes.
20
Q.
Don, Junior?
21
A.
I believe it was my son, Don,
22 23 24 25
Junior. Q.
Do you what the
were? A.
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D. J. Trump
2
MR. RUSSOMANNO: I object to the
3
form.
4
Q.
I want to direct your attention
5
to Exhibit B, which is the next to last
6
page of this exhibit, of this agreement.
7
A.
Okay.
8
Q.
It says, "license fee."
9
A.
Okay.
10
Q.
Is this how you were going to
11 12
get paid under this license fee? A.
13
Yes. MR. RUSSOMANNO: I object to the
14
form.
15
Q.
Mr. Trump, do you -- back when
16
you entered into this license agreement,
17
at that time did you have an understanding
18
of how much per square foot the units at
19
the Trump Fort Lauderdale project would
20
sell for?
21
MR. RUSSOMANNO: I object to the
22
form.
23
A.
No.
I don't that
24
exactly.
25
pricing, I think this was going to be a
212-267-6868
It was basically -- Florida
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D. J. Trump
2
better building than most of the buildings
3
in Florida, but I don't what that
4
number would have been.
5
Q.
Would it have -- do you
6
if you had an expectation of it being
7
greater than a thousand dollars per square
8
foot or you just don't at all?
9
A.
10
I don't at all. MR. RUSSOMANNO: I object to
11
form.
12
Q.
The next page says retail
13
component incentive, the last page of this
14
exhibit.
15
A.
16
Okay. Of the first part of it?
17
Q.
Yes, sir.
18
A.
Go ahead.
19
Q.
Is it your understanding that
20
the project has hotel rooms and retail?
21
A.
It had some retail, yes.
22
Q.
And other than hotel rooms and
23
retail, there's no other I guess rooms or
24
portions of the property other than that
25
and the common elements?
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D. J. Trump
2
MR. RUSSOMANNO: I object to
3
form.
4
A.
5
Well, I assume we're including
the restaurant in the retail?
6
Q.
Yes, sir.
7
A.
No, there would be nothing else.
8
Q.
And this is how you would have
9
gotten paid for the rents received for the
10
retail section of the property if they
11
were leased?
12
A.
Whatever the agreement says.
13
Q.
What was the purpose of the
14
first amendment to the license agreement?
15
MR. RUSSOMANNO: I object to the
16
form.
17
A.
18 19
(Reviewing). It sounds like legal
technicalities to me.
20
Q.
I'm sorry?
21
A.
It sounds like legal
22
technicalities to me.
23
have to read the entire agreement.
24
you asked my lawyer or just read it
25
yourself.
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I'd I wish
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D. J. Trump Q.
Mr. Trump, in order to move
3
things along, do you notice that this is
4
Bates stamped TMP on the bottom?
5
A.
TMP, yes.
6
Q.
I'm going to tell you that if
7
it's labeled TMP, it came from your
8
attorneys.
9
A.
Okay.
10
Q.
If any document Bates stamped
11
TMP has your signature, can you testify
12
that that is your signature so I don't
13
have to ask you every time?
14
MR. RUSSOMANNO: I object to
15
form.
16
A.
Yes.
17
Q.
Are you doing it?
18 19
I would love to do that.
MR. GARTEN: We'll stipulate to that.
20
MR. RUSSOMANNO: It's been
21
stipulated to and I believe there are
22
questions covered by Mr. Garten
23
yesterday --
24 25
MR. GARTEN: I've authenticated all these documents and said that any
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D. J. Trump
2
documents that has the words "TMP" is
3
authentically his signature.
4
MR. RUSSOMANNO: And if there is
5
an issue about something that needs to
6
be authenticated, you let me know.
7
We're not taking the position the
8
signature is not his.
9 10 11
THE WITNESS: Let's go. Q.
I'm going to direct your
attention to Plaintiff's Exhibit 200.
12
A.
Yeah.
13
Q.
On the bottom of the first page
14
it says, "license fee."
15
Is this an amendment to the
16
license fee as listed in Plaintiff's
17
Exhibit 198?
18
MR. RUSSOMANNO: I object to the
19
form.
20
A.
21 22
Well, without reading
everything, it looks like that, yes. Q.
Let me ask you this, Mr. Trump.
23
It says a fee, "the additional
24
fee equal to forty percent of licensee's
25
share of income received by licensee
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D. J. Trump
2
pursuant to the rental agreements after
3
payment of all operating expenses and
4
other costs relating thereto which are
5
licensee's responsibility pursuant to the
6
applicable rental agreement."
7 8
What is your understanding of what that fee is?
9
MR. RUSSOMANNO: I object to the
10
form.
11
A.
It sounds like something having
12
to do with some retail or some rental
13
income coming in.
14
Q.
What about the hotel rooms?
15
this fee associated with managing the
16
hotel rooms?
17 18 19
MR. RUSSOMANNO: Form. A.
I don't know, you'd have to ask
my attorneys.
I just don't know.
20
Q.
Or your son?
21
A.
Perhaps.
22
Q.
Exhibit 245.
23 24
Is
Mr. Trump, what are estoppel certificates?
25
MR. RUSSOMANNO: I object to the
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D. J. Trump
2
form.
3
A.
It's a certificate that
4
everything is basically okay as of the
5
date.
6 7
Q.
certificate?
8 9 10
Why did you sign this estoppel
MR. RUSSOMANNO: I object to the form. A.
It's something a lender needs
11
and wants signed from usually a management
12
company or anybody having any kind of
13
involvement with a project and that there
14
were no defaults, et cetera, et cetera.
15
Q.
16
Okay. Who generally signs estoppel
17
certificates?
18
signs an estoppel certificate; right?
19
A.
I assume the developer
A management company would sign.
20
People that have any involvement would
21
have to sign an estoppel certificate for a
22
lender.
23
for it.
24
Q.
25
Usually a lender would be asking
Okay. I presume though vendors would
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D. J. Trump
2
not be required to sign estoppel
3
certificates?
4
A.
In some cases they would be.
5
Q.
What kind of vendors?
6
MR. RUSSOMANNO: I object to the
7
form.
8
A.
9
I don't know.
If a vendor is
involved heavily in a project, they might
10
be asked to sign by a bank.
11
what the bank wants.
12
depends on what the bank wants.
13
Q.
It depends on
Corus is a bank.
And you said that estoppel
14
certificates are signed to say that
15
everything is okay?
16
MR. RUSSOMANNO: I object to the
17
form.
18
A.
Essentially that you're
19
satisfied and that you've been paid to
20
date, et cetera, et cetera.
21
Q.
But g this agreement
22
you're saying that you were paid as of
23
this date?
24 25
It
MR. RUSSOMANNO: I object to the form.
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D. J. Trump A.
3
Well, let's see. What's the date of this
4
agreement?
5
Q.
December 15, 2006.
6
A.
It would basically -- an
7
estoppel is the bank wants to know that
8
I'm happy, that everything's happy that
9
going forward things could change but that
10
as of that date you're satisfied with
11
things.
12
Q.
13
Okay. Does a bank require estoppel
14
certificates to be signed as a condition
15
of them giving money?
16
MR. RUSSOMANNO: I object to the
17
form.
18
A.
19
Not always but, generally
speaking, I would say yes.
20
Q.
Was it in this case?
21
A.
It sounds like it.
22
This is an
estoppel.
23
Q.
Exhibit 202.
24
A.
Okay.
25
Q.
What was this document before?
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D. J. Trump
2
MR. RUSSOMANNO: I object to the
3
form.
4
A.
It's a preopening agreement.
5
Q.
And why did you sign it?
6
MR. RUSSOMANNO: I object to the
7
form.
8
A.
9 10 11
I guess it's a document talking
about the opening of the hotels and the various responsibilities. Q.
Were you to get paid under this?
12
MR. RUSSOMANNO: I object to the
13
form.
14
A.
15 16
know. Q.
I don't know.
I really don't
You'd have to ask my attorneys. Mr. Trump, there's a lot of
17
legal entities in this case all with the
18
word "Trump" in it.
19 20
If a document is entered into by you individually versus a legal entity --
21 22
MS. BECK: Let me start over. Q.
I'm going to direct your
23
attention to Plaintiff's Exhibit 245, the
24
one right before you, and also two hundred
25
two which is the one right before you.
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D. J. Trump
2
A.
You're going backwards.
3
Q.
Both of them.
4
Now, the hotel preopening
5
agreement is entered into by SB Hotel
6
Associates and Trump Florida Management,
7
LLC.
8
A.
Right.
9
Q.
What is Trump Florida
10
Management, LLC?
11
MR. RUSSOMANNO: I object to
12
form.
13
A.
I believe that's the management
14
company that was going to manage the
15
hotel, which we were prepared to do.
16
Q.
If an agreement is entered into
17
by the hotel management company, would it
18
be between the other party and Trump
19
Florida Management, LLC?
20
MR. RUSSOMANNO: I object to the
21
form.
22
A.
23 24 25
I have no idea.
You'd have to
ask my lawyer. Q.
I want to ask you, Mr. Trump,
the estoppel certificates that were
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D. J. Trump
2
signed, you entered into them -- the
3
estoppel certificates were signed by you
4
in your individual capacity and also on
5
behalf of Trump International Hotels
6
Management, LLC.
7
Did you sign these documents
8
because the bank asked you in your
9
individual capacity and also under these
10
other entities to sign it?
11
MR. RUSSOMANNO: I object to the
12
form.
13
A.
As I told you, estoppels are
14
standard for a bank to get.
15
standard agreement that all banks require
16
prior to lending money, for the most part.
17
Q.
This is a
Is it your belief that the bank
18
asked to sign this estoppel certificate
19
prior to handing out the money because you
20
were the hotel management company or the
21
licensor, both or neither?
22
MR. RUSSOMANNO: I object to the
23
form.
24
A.
Perhaps both.
25
Q.
Who is SB Hotel Associates, LLC?
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D. J. Trump A.
I think that's Stillman, Roy
Stillman.
4
Q.
His company?
5
A.
His company, yes.
6 7
MR. GILLMAN: Objection to form. Q.
And is it your understanding
8
that SB Hotel Associates, LLC is the
9
developer of that project?
10
A.
That's my understanding, yes.
11
Q.
What other developers of that
12
project do you know of?
13
MR. RUSSOMANNO: I object to the
14
form.
15
A.
I don't know of any.
16
Q.
Just SB Hotel Associates, LLC?
17
A.
I believe that's correct.
18
Q.
And what underpins that belief?
19
MR. RUSSOMANNO: I object to the
20
form.
21
Q.
Why do you think that?
22
A.
General knowledge.
23
knowledge of the project.
24
that was the developer.
25
speak to my lawyers.
212-267-6868
General
I believe that You'd have to
But I believe that
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D. J. Trump was the developer of the project.
3
Q.
It's a legal --
4
A.
You'd have to ask that question
5 6 7 8 9
to my lawyers. Q.
What about Bayrock, Bayrock
Group, LLC, were they a developer? A.
I don't know if they were a
developer of this site or not.
I know Roy
10
Stillman's company was the developer and
11
they worked very hard.
12
whether or not Bayrock was the developer
13
of this site.
14 15 16
Q.
I don't know
What is your understanding of
their role in this project? A.
Well, they originally wanted to
17
be the developer but ultimately they sold
18
it to Roy Stillman.
19 20
Q.
exited out of the project?
21
MR. RUSSOMANNO: I object to the
22
form.
23
A.
24 25
Is it your belief that they
I don't know.
my lawyers. Q.
212-267-6868
You'd have to ask
I don't know.
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D. J. Trump
2
A.
Okay.
3
Q.
This is an agreement between
4
your company that was to manage the Trump
5
Fort Lauderdale hotel --
6
A.
Right.
7
Q.
-- and SB Hotel Associates; is
8
that right?
9
MR. RUSSOMANNO: I object to the
10
form.
11
A.
Yes.
12
Q.
Okay.
13
If your company was to get paid
14
for managing the hotel, those would
15
be in this agreement before you?
16
A.
17
I think so, yes. MR. RUSSOMANNO: I object to the
18
form.
19
Q.
Any other agreement?
20
A.
I don't know, but I think this
21
would be the agreement, unless it was
22
amended.
23
Q.
24 25
Exhibit 204 and 205. How far back do you go with Mr.
Roy Stillman?
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D. J. Trump
2
A.
With who?
3
Q.
Mr. Roy Stillman.
4
A.
I don't go back that far.
I met
5
him because of this job, so I go back to
6
the time where I was introduced to him
7
through Bayrock.
8
that time.
9
hardworking man.
10
Q.
11
Trump?
12
A.
13 14 15
And so it would be about
I found him to be a very
What are these documents, Mr.
This is the development and
services agreement. Q.
These were later cancelled and
superseded.
16
Do you ?
17
A.
No, I don't.
18
Q.
You don't.
19
Okay.
Do you know why you would enter
20
into -- excuse me, Trump Lauderdale
21
Development, LLC would enter into a
22
development and services agreement?
23
MR. RUSSOMANNO: I object to the
24
form.
25
A.
212-267-6868
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D. J. Trump Q.
Do you know what the purpose is
of a development and services agreement?
4
A.
Yes.
5
Q.
What is it for?
6
A.
To develop and service a job.
7
Q.
What job is that?
8
A.
In this case, I would assume it
9
would be the job in Fort Lauderdale.
10
This was before Mr. Stillman, I
11
assume.
12
when he bought this project, I assume.
13
Q.
He ended up taking over this role
You spoke earlier that you and
14
Bayrock were contemplating becoming the
15
developer for the Fort Lauderdale project?
16
MR. RUSSOMANNO: I object to
17
form.
18
A.
I don't know in of
19
contemplating.
We were thinking about
20
building the job, but we never got there
21
because Mr. Stillman purchased it.
22
Q.
And this document --
23
A.
I think it preceded Mr.
24
Stillman.
25
speak to my lawyers.
212-267-6868
I may be wrong.
You'd have to
But this probably
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D. J. Trump
2
was probably a development and services
3
agreement as though we were going to build
4
it but we ultimately didn't do that or I
5
didn't do that certainly.
6
Q.
So you entered into this as part
7
of the paperwork that shows that you and
8
Bayrock were contemplating building the
9
building?
10
A.
11
Correct. MR. RUSSOMANNO: I object to the
12
form.
13
A.
Correct.
14
Q.
Exhibit 201.
15
A.
Okay.
16
Q.
Now, the development and
17
services agreement that I just placed
18
before you, that was dated June 30, 2004;
19
is that correct?
20 21
A.
Right, terminated by this
letter.
22
Q.
And this letter --
23
A.
October 24.
24
Q.
This letter references a license
25
agreement?
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D. J. Trump
2
A.
Right.
3
Q.
Is that the license agreement,
4
Exhibit 198?
5
A.
I don't know.
6
Q.
Well, let's pull it out.
7
A.
Let's do that.
8
Q.
Exhibit 198 and the two
9
Probably.
amendments.
10
MR. RUSSOMANNO III: One hundred
11
ninety-eight, one hundred ninety-nine,
12
and two hundred; is that what you
13
want?
14
MS. BECK: Yes, sir.
15
A.
Go ahead.
Let's go.
16
Q.
Are those three, the license
17
agreement and the two amendments that were
18
introduced earlier, is that the license
19
agreement that Plaintiff's Exhibit 201 is
20
referencing on its first page?
21 22
A.
It sounds like it, but you'd
have to ask my lawyer.
23
MR. RUSSOMANNO: I object to
24
form.
25
Q.
212-267-6868
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D. J. Trump
2
agreement for the Trump Fort Lauderdale
3
project between you or any of your
4
companies and any other entity?
5
A.
6
MR. RUSSOMANNO: I object to the
7
form.
8
Q.
9 10 11 12 13
I don't know.
Do you g any such
document? A.
No, no.
I doubt it, but you'd
have to ask my lawyers. Q.
Mr. Trump, we talked earlier
about the Trump standards.
14
Do you recollect?
15
A.
Uh-huh.
16
Q.
Are the Trump standards -- do
17
you know if the Trump standards have been
18
reduced to writing?
19
MR. RUSSOMANNO: I object to the
20
form.
21
A.
You'd have to ask my son.
22
Q.
Which one?
23
A.
Don.
24
Q.
Exhibit 214 and 215.
25
Have you ever seen these
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D. J. Trump documents before?
3
A.
I think I have.
I've seen them.
4
I haven't gone over them in great detail,
5
but I've seen them.
6
Q.
Is this an example of the Trump
7
standards?
8
A.
Yes.
9
Q.
And Exhibit 215, this is an
10
example of the Trump standards I guess for
11
food and beverage?
12
A.
Yes.
13
Q.
Who at your organization
14
determines how these documents are
15
created?
16
MR. RUSSOMANNO: I object to
17
form.
18
A.
19
Mr. Jim Petrus of The Trump
Organization.
20
Q.
Is he still with your company?
21
A.
Yes, he is.
22
Q.
Do you personally have any input
23
into what goes into the Trump standards,
24
these brochures, these documents before
25
you?
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D. J. Trump
2
A.
Yes.
3
Q.
And how is your input solicited?
4
A.
Just overall input; I want
5
location, I want beautiful buildings, I
6
want important buildings, I want things
7
that are basics, and then my people would
8
get into the details.
9
Q.
Other than Jim Petrus, who else
10
is involved with securing the Trump
11
standards?
12
A.
13 14 15
Primarily Mr. Petrus.
He's the
head of the hotel company. Q.
Were the Trump standards always
-- well, it couldn't have been always.
16
When is the earliest point in
17
time when the Trump standards were put
18
into writing such as in Exhibits 214
19
and 215?
20 21
A.
I don't know.
You'd have to ask
my lawyers.
22
Q.
Your lawyers or Mr. Petrus?
23
A.
Mr. Petrus.
24
Q.
How long has Mr. Petrus been
25
with your company?
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D. J. Trump
2
A.
3
years.
4
Q.
Quite a while, four or five
Do you know if the Trump
5
standards were in writing prior to Mr.
6
Petrus being at your company?
7 8 9
A.
We always had high standards.
I
don't know if it was reduced to writing. Q.
10
Exhibit 248 and 249. Mr. Trump, why did you not
11
develop the project in Fort Lauderdale
12
yourself?
13
MR. RUSSOMANNO: I object to
14
form.
15
A.
Because somebody came along that
16
wanted to develop it and basically it was
17
more of a Bayrock thing than us.
18
Stillman came along and made an offer I
19
guess to Bayrock and he became the
20
developer of the project.
And Mr.
21
Q.
Okay.
22
A.
I never developed the project.
23
I don't know how Bayrock was involved, but
24
I never developed the project.
25
you've spoken to Bayrock so you know how
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D. J. Trump
2
they were involved, but I can't speak for
3
Bayrock.
4
Q.
5
Exhibit 248 and 249. Have you ever seen this fax in
6
Exhibit 248?
Have you ever seen this
7
document before?
8
A.
No.
9
Q.
There's a letter here from Mr.
10
Donald Trump, Junior.
11 12
Why is your son making changes to the floor plans to the project?
13
MR. RUSSOMANNO: I object to the
14
form.
15
A.
He's looking for quality.
He
16
wants to make sure everything is in
17
beautiful shape in of size, in
18
of quality, so he may have changed things
19
because he wants them to be according to
20
the standards.
21
Q.
The Trump standards?
22
A.
Yeah.
23
Q.
Who determines whether or not
24
something is -- rises to the level of a
25
Trump standard?
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D. J. Trump A.
The group, Don Trump, Junior,
maybe Mr. Petrus.
4
Q.
And that decision is made how?
5
A.
By them.
They'd look at the
6
plan.
7
they'd make it so they do like it.
8
They'll increase the standard.
9
Q.
10
They see a plan they don't like and
Okay. Plaintiff's Exhibit 249.
11
A.
Yeah.
12
Q.
Have you ever seen this document
13 14
before? A.
Yes, I believe so.
It was
15
ed through me but I haven't seen it in
16
a long time.
17
Q.
18
Okay. Who gave it to you to look at?
19
A.
I don't know.
20
Q.
And why would you see it?
21
A.
I don't know.
22 23
I just saw it.
It was ed
along the chain and I got to see it. Q.
Did you see it basically to make
24
sure that you wouldn't issue a disapproval
25
of it?
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D. J. Trump A.
3
MR. RUSSOMANNO: I object to the
4
form.
5
A.
6
to see it.
7
Q.
8
No.
No, not at all.
I just happened
Pretty standard stuff. The last page of Plaintiff's
Exhibit 249, is that your writing?
9
A.
Yes, it is.
10
Q.
What is Stiles Construction
11
Company?
12
A.
I don't know.
13
Q.
Are you aware of who they are in
14 15
general? A.
No.
I'm not the developer of
16
the site; you ?
17
developer.
18
Q.
19 form.
21
A.
23 24 25
But you are a developer. MR. RUSSOMANNO: I object to the
20
22
I'm not the
I develop other things.
I
didn't develop this job. Q.
Have you ever heard of Stiles
Construction before? A.
212-267-6868
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D. J. Trump
2
haven't.
3
me.
4 5
That doesn't sound familiar to
Q.
When you develop a job, do you
always hire a construction company?
6
MR. RUSSOMANNO: I object to the
7
form of the question.
8
A.
9 10
Usually you hire a construction
company, yes. Q.
Okay.
11
And what does the job of a
12
developer entail vis-a-vis the
13
construction company?
14
MR. RUSSOMANNO: Objection to
15
form.
16
answered.
17
A.
18
again?
19
for twenty minutes?
20
through it again?
21 22
Q.
Repetitious.
Asked and
Are we going to go through this Didn't we go through this before You want to go
Exhibit 169, 176, 181, 182, 183,
184, and 186.
23
A.
Okay.
24
Q.
Okay.
25
I'm ready.
You defaulted Stillman's
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D. J. Trump company?
3
A.
I didn't default.
4
Q.
Who defaulted them?
5
A.
You said I defaulted.
6
Q.
Yes.
7
A.
No, I didn't default.
We sent a
8
default notice to Mr. Stillman's company.
9
Well, there's a difference.
10
Q.
11 12
Okay. What's the difference?
A.
Why don't you ask the question
13
properly?
14
the Stillman company?
15
Q.
16 17
Did I send a default notice to Yes, we did.
Okay. When you say we, you're talking
about a company that you control?
18
A.
Yes.
19
Q.
That's the distinction that you
20
were making earlier?
21
A.
Yes.
22
Q.
Why did a company that you
23
control default Roy Stillman's company?
24
MR. GILLMAN: Objection to the
25
form.
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D. J. Trump
2
You mean SB Hotel?
3
MR. RUSSOMANNO: Objection to the
4
form.
5
MS. BECK: SB Hotel.
6
A.
Because they had failed to do
7
certain things in accordance with our
8
agreement.
9
Q.
Do you recollect what they were?
10
A.
No, I don't .
But they
11
failed to live up to the agreement that we
12
had.
13
Q.
The license agreement?
14
A.
The agreement, whatever the
15
agreement was, they were not living up to
16
it.
17 18
Q.
Do you know if the bank was
copied on any of that correspondence?
19
A.
I don't know.
20
Q.
Do you know if Corus Bank was
21
notified --
22
A.
I don't know.
23
Q.
-- that your company had
24 25
defaulted SB Hotel Associates, LLC? A.
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D. J. Trump Q.
Well, look at Plaintiff's
Exhibit 169, please.
4
A.
Okay.
5
Q.
This is a letter from your
6
daughter to Corus Bank letting them know
7
that the license agreement -- under the
8
license agreement between Trump Marks Fort
9
Lauderdale, LLC, SB Hotel Associates, LLC
10
has been defaulted; is that correct?
11
A.
Uh-huh, yes.
12
Q.
Why was Corus Bank notified; do
13
you know?
14
MR. RUSSOMANNO: I object to the
15
form of the question.
16
A.
You'd have to ask my lawyers.
17
They probably have a legal reason why they
18
had to be notified.
19
Q.
Do you feel that this may have
20
been somewhat -- copying the bank may have
21
been somewhat destructive of the property?
22
MR. RUSSOMANNO: I object to the
23
form of the question.
24
A.
25
No, I don't think so.
it's a standard thing.
212-267-6868
I think
The bank would
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D. J. Trump
2
demand to know.
3
think it would have been very destructive
4
of the property.
5
choice.
6
And frankly, if you didn't, the developer
7
would have had to send a notice to the
8
bank anyway immediately; otherwise, they
9
wouldn't be showing what's going on.
10
Q.
If we didn't copy it, I
I think you have no
The bank would have demanded it.
Exhibit 176, this is the notice
11
of default to the Stillman Organization;
12
is that correct?
13
A.
Yeah.
14
Q.
Okay.
15 16
It talks about the Trump standard.
17
Is it your testimony that the
18
reason this notice of default was sent was
19
because the Trump standards were not being
20
met?
21 22
MR. GILLMAN: Objection to form. A.
I think that and other things.
23
You'll have to speak to my attorney but I
24
think that and other things.
25
Q.
212-267-6868
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D. J. Trump A.
Well, it says you have to
3
complete construction, fit out, furnishing
4
of the restaurant and the bar and the
5
kitchen, which wasn't done.
6
just standards, that's basics.
7 8
Q.
Was it delayed or was it not
getting done ever?
9
MR. RUSSOMANNO: I object to the
10
form.
11
A.
12
So that's not
It was delayed and it looks like
it was not going to get done.
13
Q.
Do you know if it's done now?
14
A.
I don't know, no.
15 16
I don't know
what happened with it. Q.
Does a delay in the project's
17
completion constitute a breach of the
18
license agreement?
19
MR. RUSSOMANNO: I object to the
20
form.
21
A.
22 23 24
Probably, but you'd have to ask
my attorneys. Q.
Do you feel that this notice of
default made a bad situation worse?
25
MR. RUSSOMANNO: I object to the
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D. J. Trump
2
form of the question.
3
A.
We had no choice.
4
Q.
Why not?
5
A.
The building wasn't being
6 7
completed and we had no choice. Q.
Was it your belief at the time
8
that the building would never have been
9
complete?
10
MR. RUSSOMANNO: I object to the
11
form of the question.
12
A.
13
happening.
14
management agreement and we have our name
15
on the building and if it's not going to
16
be completed or it's not going to be
17
finished not only in a timely manner but
18
finished period, then we don't want to be
19
involved with it and we have every right
20
to send this and we obviously did send
21
this.
22
Q.
I didn't know what was All I know is we had a
If and when that building is
23
finished, is it your position that that
24
building is not entitled to hold the Trump
25
name anywhere?
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D. J. Trump
2 3
A.
Yes, we took our name off that building.
4 5
Yes, because we defaulted them.
You're talking about finished now?
6
Q.
Well, yes.
7
A.
Well, now a new group will own
8
the building and does own the building at
9
some point.
I don't know what's happening
10
with the building now.
11
had to be finished and it had to be
12
finished in accordance with what we were
13
doing and with our standards and with our
14
letters and it wasn't finished and it
15
looked like it was quite a bit delayed, to
16
put it mildly.
17
Q.
But the building
Mr. Trump, if the building, if
18
and when it's finished, if it does meet a
19
certain standard of luxury that will meet
20
the Trump standards, is it still your
21
position that it is not entitled to hold
22
the Trump name anywhere?
23
MR. RUSSOMANNO: I object to the
24
form.
25
A.
212-267-6868
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D. J. Trump come to us and make a deal with us. Q.
4
Start over? MR. RUSSOMANNO: I object to the
5
form of the question.
6
A.
Yeah, the new owners of the
7
building would have to come to us to make
8
a deal.
9
Q.
10
agreement?
11
A.
12
agreement.
13
Q.
14
Enter into a new license
Yes, a brand-new license
Which may or may not happen? MR. RUSSOMANNO: I object to the
15
form of the question.
16
A.
17
Which may or may not happen,
yeah.
18
Q.
And that is up to you to decide?
19
A.
Well, and the new owners.
20
Q.
Exhibit 181.
21
A.
Go ahead.
22
Q.
Do you speaking about
23
defaulting the SB Hotel Associates, LLC
24
with your daughter?
25
A.
212-267-6868
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D. J. Trump Q.
3 4 5
Okay. What was the content of that
conversation? A.
She was very unhappy with the
6
fact the job wasn't being built in a
7
timely manner, it wasn't being built
8
according to what our hotel
9
representatives felt it should be, and I
10
guess this was the beginning of the
11
letters that was sent.
12
Q.
Who hired the hotel staff?
13
A.
Mr. Petrus.
14
Q.
Who paid the hotel staff?
15
A.
I don't know.
16
Q.
Do you know how payroll at your
17
organization and its d companies
18
work?
19 20 21
A.
It's very different for each
company. Q.
Can employees of your
22
organization and its d companies
23
all -- it's not true that each of your
24
d companies has its own payroll?
25
Would you know that?
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D. J. Trump
2
MR. RUSSOMANNO: I object to
3
form.
4
A.
Some do have their own payroll
5
and some don't.
6
own payroll.
7 8 9
Q.
This would have had its
When you're talking about this,
you're talking about what? A.
Again, it's not our company.
10
This was this is a company that was owned
11
by somebody else.
12
of the building and the licensee.
13 14 15
Q.
We're just the manager
You're talking about Trump
International Hotels Management, LLC? A.
I'm talking about the building
16
in Fort Lauderdale that you're talking
17
about.
18
Q.
You're talking about the people
19
who would work at the hotel as its staff
20
would have their own payroll, is what
21
you're saying?
22
A.
I think so.
23
Q.
Why?
24
A.
Because it's a separate entity
25
Most likely.
and it's not owned by The Trump
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D. J. Trump Organization. Q.
When you say it's not owned by
4
The Trump Organization, who would own it?
5
MR. RUSSOMANNO: I object to the
6
form of the question.
7
A.
I just told you about fifteen
8
times.
This is Mr. Stillman's company.
9
Mr. Stillman is the developer of this
10
site.
11
involvement is, whether they were an owner
12
or not.
13
this site.
14
Q.
15
I don't know what the Bayrock
Mr. Stillman is the developer of
What about the hotel management
company?
16
A.
That's different.
17
Q.
You would own that; yes?
18
MR. RUSSOMANNO: I object to the
19
form of the question.
20
A.
Yes, but you didn't ask me that.
21
You said who would own the building.
22
own the management company.
23
Q.
Right.
24
A.
As I've said many times.
25
Q.
Plaintiff's Exhibit 183.
212-267-6868
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We
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D. J. Trump
2
A.
Yes.
3
Q.
Do you getting this
4
Go ahead.
from Mr. Stillman?
5
A.
No.
6
Q.
When something is addressed to
7
you --
8
A.
9 10
I vaguely.
I gave it
to my lawyers. Q.
11
Okay. When your company and yourself
12
entered into all these agreements prior to
13
the project beginning, was there an
14
understanding about how the hotel revenues
15
would be divided between an owner of a
16
unit and whoever is managing the unit?
17
MR. RUSSOMANNO: I object to the
18
form.
19
A.
I think that would be up to the
20
hotel management people to make sure the
21
distributions were made in accordance with
22
a certain procedure.
23 24 25
Q.
Hotel management people meaning
your company? A.
212-267-6868
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D. J. Trump
2
Stillman, working as the owner of the
3
project, you know, the development, they
4
would have to work something out.
5
Q.
Does the word "split" mean
6
anything to you, a hotel room split
7
between owner and manager?
8 9
MR. RUSSOMANNO: I object to the form of the question.
10
A.
Yeah, it's a standard phrase.
11
Q.
What's the split in SoHo?
12
A.
I don't know.
13
my ants.
14
the split is.
You'd have to ask
I really don't know what
15
Q.
Exhibit 184.
16
A.
Yes.
17
Q.
This is a continuation of your
18
correspondence with Mr. Roy Stillman?
19
A.
Correct.
20
Q.
In the dispute over the license
21
agreement?
22
A.
Yes.
23
Q.
And Exhibit 186.
24
A.
Yes.
25
Q.
This is also a continuation of
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D. J. Trump that correspondence?
3
A.
Yes.
4
Q.
Mr. Trump, all the letters that
5 6
were sent by you or -A.
By the way, when I talk about
7
Roy Stillman, SB Hotel, as you know, is
8
the developer.
9
Q.
Well, yes, I --
10
A.
I'm talking about SB Hotel which
11
I believe Mr. Stillman owns.
12
is the developer, not Mr. Stillman.
13
Q.
But SB Hotel
I understand that your position
14
is that SB Hotel Associates, LLC is the
15
developer.
16
A.
17 18
Whatever the name of that entity
is, just so you can be clear on that. Q.
Is it because SB Hotel
19
Associates, LLC built the building; is
20
that why --
21
MR. GILLMAN: Objection to the
22
form of the question.
23
A.
I just told you, that's the name
24
of the entity that's developing the site,
25
SB Hotel.
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D. J. Trump
2
Q.
Okay.
3
And how do you determine which
4
entity is the entity that's developing a
5
particular site?
6
MR. RUSSOMANNO: I object to the
7
form of the question.
8
A.
9
and the legal entity is the developer.
10 11
Q.
How do you determine which legal
entity is the developer?
12 13
They're known as the developer
A.
You'd have to ask their lawyers
and our lawyers.
14
Q.
Exhibits 184, 182, 181, 176,
15
and 169, are the contents of these
16
exhibits true?
17
MR. GILLMAN: I object to form.
18
MR. RUSSOMANNO: I object to the
19
form of the question.
20
A.
21
true.
22 23
You mean do I see the exhibits? Yes.
24 25
I don't know what you mean by
Are they true? Q.
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D. J. Trump
2
A.
3
right?
4
Q.
These are letters written to me;
No, sir, they're all sent out on
5
Trump Marks Fort Lauderdale, LLC
6
letterhead.
7 8
A.
This was written by SB Hotel,
they weren't written by us.
9
Q.
Exhibit 169 --
10
A.
Wait a minute, one hundred
11
eighty-six, you said one hundred
12
eighty-six.
13
Q.
No, I started over.
14
A.
Well, you didn't do that.
15
gave us the wrong exhibits.
16 17 18 19
You
Yes, one hundred sixty-nine is true. Q.
All the letters sent out on
Trump Marks Fort Lauderdale, LLC --
20
A.
Yes, that would be true.
21
Q.
They are all true?
22
A.
But you didn't ask that question
23
before.
24
letters.
25
Q.
212-267-6868
You asked about somebody else's
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D. J. Trump A.
The letters that were sent out
3
on Trump or like signed by Ivanka Trump,
4
yes, we believe they are true.
5
Q.
And they are true today?
6
MR. GILLMAN: I object to form.
7
MR. RUSSOMANNO: I object to the
8
form.
9
A.
10 11 12
Yes.
I mean, I don't know what
your definition of today is. Q.
You still believe that they're
true today?
13
MR. GILLMAN: I object to form.
14
MR. RUSSOMANNO: I object to
15
form.
16
A.
Yes.
17
MS. BECK: Exhibit 324.
18
(Whereupon, a copy of a
19
newspaper article was marked
20
Plaintiff's Exhibit 324
21
for identification.)
22 23
MS. BECK: It's Bates stamped BAY-1TRIL 000179 and 180.
24 25
THE WITNESS: Let's go.
I'm
ready.
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Page 96 1 2 3
D. J. Trump Q.
Did you ever read this article
before?
4
A.
No, I haven't.
5
Q.
Mr. Trump, why -- adding your
6
name to a building adds value; is that
7
correct?
8
A.
Yes.
9
Q.
How much?
10
A.
I don't know.
It depends on the
11
location, it depends on the building, but
12
typically it would add value.
13 14
Q.
On the low end and high end do
you have numbers per square foot?
15
A.
No.
16
Q.
I want to direct your attention
17
to the second page of this article.
18
On the bottom of the middle
19
column it says, "a New York real estate
20
brokerage once estimated Trump's name adds
21
about eighteen percent to prices a
22
condominium tower can charge."
23 24 25
Do you disagree with that? A.
I think it's higher, but
eighteen percent is substantial.
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D. J. Trump
2
think it would be actually much higher in
3
many cases.
4
Q.
It also goes on to say, "this
5
gentleman thought Trump could probably
6
tack at least a $200 a foot in
7
Fort Lauderdale."
8 9 10
Do you agree with that? A.
I think that's
true.
11 12
Yeah, I do.
MS. BECK: This is also a new exhibit, Exhibit 325.
13
(Whereupon, an e-mail dated
14
May 13, 2009 was marked Plaintiff's
15
Exhibit 325 for identification.)
16 17
MS. BECK: And it's Bates stamped CCVPROD 0003086 and 3087.
18
And in conjunction with this
19
one, I also have Plaintiff's
20
Exhibit 326, which is Bates marked
21
CCVPROD 0003097 up to 3100, four
22
pages.
23
(Whereupon, a letter dated
24
June 2, 2009 was marked Plaintiff's
25
Exhibit 326 for identification.)
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D. J. Trump
2
THE WITNESS: Are you ready?
3
MR. GILLMAN: Excuse me, I have
4
to see Exhibit 326.
5
provide me with copies.
6
They didn't
MR. RUSSOMANNO III: We'll give
7
him the marked one real quick.
8
MR. GARTEN: Go ahead, Elizabeth.
9
Ask the question.
10
Q.
Have you ever seen this e-mail
11
exchange between Mr. Tom Manno and Roy
12
Stillman before?
13
A.
No, I have not.
14
Q.
Do you know who Mr. Tom Manno
16
A.
No, I do not.
17
Q.
Okay.
15
is?
18
In the first e-mail of
19
Plaintiff's Exhibit 325, Mr. Stillman
20
says, "please understand that the Trumps
21
shot a well-placed torpedo that has had
22
the intended effect.
23
reason to think that their letter would
24
cause a default with the bank and
25
cessation of funding.
212-267-6868
They had every
It did."
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D. J. Trump
2
Do you agree with that?
3
A.
4
No. MR. RUSSOMANNO: I object to the
5
form of that question.
6
Q.
Do you know what he's referring
7
to when he talks about a well-placed
8
torpedo?
9
A.
No, I don't.
They were in
10
default, they understood they were in
11
default, and that's it.
12
simple and open process.
13
default.
14
agreement.
15
default.
It was a very They were in
They hadn't lived up to the And we sent them a letter of
16
Q.
The license agreement?
17
A.
Yeah.
18
Q.
Did you ever have a conversation
19
with Mr. Stillman regarding the license
20
agreement prior to sending out the letter
21
of default?
22
A.
I believe -- I mean, I had
23
numerous conversations with him saying get
24
going, get going, get it going, get the
25
building going.
212-267-6868
I had actually heard the
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D. J. Trump
2
bank stopped funding before this, but
3
again that was only hearsay.
4
was reasons for default and you see that
5
in the default notice.
6
Q.
But there
Is it your position that the
7
default notice is justified even if it
8
turned out that it was not within Mr.
9
Stillman or SB Hotel Associates, LLC or
10
the Stillman Organization's control?
11
MR. RUSSOMANNO: I object to the
12
form.
13
A.
14
had the control.
15 16 17
Well, he was the developer so he
MR. GILLMAN: . A.
He was the developer.
He had
the control.
18
Now, I don't think there's any
19
question about that.
20
had the control.
21
his relationship with his bank.
22
heard Corus didn't fund before this, but
23
that's up to Mr. Stillman and his bank.
24
don't know.
25
Q.
212-267-6868
As the developer, he
Now, I can't speak to I had
I
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D. J. Trump person that dealt with the bank? A. bank.
5
MR. RUSSOMANNO: I object to the
6
form.
7
Q.
8 9 10
Well, we didn't deal with the
Why not? MR. RUSSOMANNO: I object to the
form. A.
Because as I've said about
11
fifteen times today, we just -- we were
12
the manager.
13
agreement.
14
developer.
15
Q.
We have a management Mr. Stillman was the
So it wouldn't be -- you
16
wouldn't be interested in knowing about
17
what's going on with the bank?
18
MR. RUSSOMANNO: I object to the
19
form of the question.
20
A.
21
developer.
22
very heavily on Mr. Stillman as the
23
developer.
24
Q.
25
We have to rely on the He's the developer.
We relied
What about the estoppel
certificates that were signed?
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D. J. Trump A.
for a bank. Q.
You have no choice.
That was sent to you via Mr.
MR. RUSSOMANNO: I object to the
7
form.
8
A.
10
Everybody signs them
Stillman, those estoppel certificates?
6
9
Standard.
No, I think probably through the
bank, actually. Q.
Very standard.
Other than the estoppel
11
certificates, what other interactions did
12
you or your organization or its s
13
have with Corus Bank?
14
MR. RUSSOMANNO: I object to the
15
form.
16
A.
Nothing that I would know of.
17
Q.
You mentioned earlier that it
18
was within Mr. Stillman's control.
19
What about the lack of funding
20
that he is referencing, was that within
21
his control?
22 23
MR. RUSSOMANNO: I object to the form.
24 25
MR. GILLMAN: Objection to the form.
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Page 103 1 2
D. J. Trump A.
Yeah, because if the building
3
were built in a timely manner and
4
according to plans and specifications, the
5
bank would have to fund.
6 7
Q.
Are you aware that Corus Bank no
longer exists?
8
A.
Yes.
9
Q.
What is your response to the
10
statement that funding dried up because
11
Corus Bank was in financial difficulties?
12
MR. RUSSOMANNO: I object to the
13
form.
14
A.
That's possible, that's
15
possible.
16
Stillman's fault.
17
troubled bank and I don't even know if it
18
exists any longer.
19
quite some time, including the time toward
20
the end of this project.
21
possible.
22
Mr. Stillman, he cannot be responsible for
23
a major bank that fails.
24
big bank.
25
Q.
212-267-6868
And that would not be Mr. Corus Bank is a known
And it was known for
So that's
And if that's the case, then
That was a very
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D. J. Trump
2
referenced a crash in the real estate
3
market?
4
A.
Yes.
5
Q.
And in connection with that
6 7
crash, financing dried up? A.
In connection with -- well, I
8
don't know about this financing but
9
generally speaking financing dried up.
10
Your clients are actually very
11
lucky that they didn't close on their
12
units because their units would be worth
13
about twenty-five percent of what they
14
would have paid.
15
Q.
Mr. Trump --
16
A.
So they're very lucky.
17 18 19 20
So tell
your clients they got very lucky. Q.
Mr. Trump, they testified under
oath that they would still like to close. A.
Oh, I don't think so, I don't
21
think so.
22
Their units would be worth -- just because
23
of the market, not because of the
24
building.
25
the market is much lower right now.
212-267-6868
Unless they have a death wish.
But if you look at the market,
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D. J. Trump
2
your clients got very lucky that they
3
didn't close.
4
and therefore you have absolutely no
5
damages, in my opinion.
6 7
Q.
They saved a lot of money
Mr. Trump, you said the market
is bad.
8
A.
Yeah, very bad.
9
Q.
The market is bad uniformly?
10
A.
The market is very bad
11
throughout the United States and in large
12
cases throughout the world, yes.
13 14
Q.
All property basically
depreciated in value?
15
MR. RUSSOMANNO: I object to
16
form.
17
A.
Yes, I would say almost all
18
property depreciated and properties in
19
this area and in Miami and Fort Lauderdale
20
depreciated not just a little bit but
21
tremendous numbers.
22
and as I alert my lawyers and your lawyers
23
and everybody else, the fact is that your
24
clients got very lucky that they didn't
25
purchase these units because they saved a
212-267-6868
And as I said before
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D. J. Trump
2
tremendous amount of money because their
3
properties would be worth much less right
4
now just because the market conditions.
5
So congratulate your clients.
6
Q.
Mr. Trump, if property values
7
plummeted, was your concern with removing
8
your name from the building being
9
associated with a building that would be
10
valued considerably less than what you
11
originally anticipated?
12
MR. RUSSOMANNO: I object to
13
form.
14
A.
No, my concern was we wanted to
15
have a nice hotel that would be open and
16
beautiful and, when people came in, it
17
would be an absolutely beautiful building,
18
and unfortunately that wasn't taking
19
place.
20
that wasn't taking place because whether
21
it was Corus Bank or whether it was Mr.
22
Stillman or his company, the building
23
wasn't being completed.
24
have a hotel there and unfortunately
25
wasn't getting built and that's too bad.
212-267-6868
Whether values went up or down,
We would love to
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it
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D. J. Trump
2
But your clients had no damages because
3
they would have lost a tremendous amount
4
of money, as did all other people that
5
bought apartments or just about all other
6
people at that time because the market
7
crashed.
8
They got very lucky.
9 10 11
Q.
So your clients have no damages.
What about the money they put
down? A.
That was much less than they
12
would have lost in of the
13
depreciation of their units.
14 15
Q.
What about the money they put
down?
16
MR. RUSSOMANNO: I object to the
17
form.
18
A.
The money they put down is
19
peanuts compared to the value of
20
depreciation.
21
piece of paper and a pencil, you'll find
22
that out.
23
that out.
24
Q.
25
If you sit down with a
Even you will be able to figure
You called it peanuts. They're not entitled to those
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Page 108 1 2 3
D. J. Trump peanuts? A.
I said to you that the money
4
that they put down and the money they got
5
back and have gotten back, will get back,
6
is very little compared to the amount of
7
-- to the loss of value that all people in
8
Florida and many, many other places,
9
California, Arizona, and throughout the
10
United States have lost.
11
home values where they went down fifty,
12
sixty, seventy, eighty, and ninety
13
percent, so they did not -- in other
14
words, had this building been built and
15
had they been forced to close on their
16
units, they would have lost a tremendous
17
amount of money.
18 19 20 21
Q.
If you look at
You mentioned earlier money that
they're going to get. A.
I don't know what the situation
is, but if they get money back --
22
Q.
What money?
23
A.
I don't know.
But if there's
24
money available to be given back, that's
25
fine as far as what I'm concerned.
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D. J. Trump
2 3
Q.
Have you ever seen Plaintiff's
Exhibit 326 before?
4
A.
Not that I know of.
5
Q.
Are you aware that Stiles
6
Construction placed a lien on the building
7
in an amount of over $2 million?
8
A.
I'm not aware of that, no.
9
Q.
Plaintiff's Exhibit 168.
10 11
Have you ever seen this letter before?
12 13
A.
written to.
14 15
It doesn't seen say who he's
Q.
I didn't black that out.
This
was produced by your companies.
16
A.
Not by my company.
17
Q.
It says TMP on the bottom.
18
A.
I don't know what this letter
19
is.
20
sections are redacted.
21 22
I haven't seen it.
Q.
I mean, important
Do you know why this says
confidential on the bottom, Mr. Trump?
23
A.
No, I have no idea.
24
Q.
Okay.
25
Mr. Trump, what was your
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D. J. Trump
2
understanding of the conditions that had
3
to be in place for the hotel to open?
4
MR. RUSSOMANNO: I object to the
5
form of the question.
6
A.
7
It's got to be a completed
building.
8
Q.
9
standards?
10
A.
The building wasn't completed. According to the Trump
No, it wasn't completed not even
11
according to standards.
12
completed.
13
Q.
It wasn't
What happens if the building is
14
complete, is there a condition of a
15
certain number of closings that had to
16
happen prior to the hotel opening?
17
MR. RUSSOMANNO: I object to the
18
form.
19
A.
20
my lawyer.
21
Q.
I don't know.
You'd have to ask
I'm going to ask you to look at
22
Plaintiff's Exhibit 168 again, the second
23
page.
24 25
It says, "opening of hotel." I don't know if you answered
this question before, but have you seen
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D. J. Trump this letter before?
3
MR. RUSSOMANNO: He answered.
4
A.
I don't having seen it.
5
Q.
I'm going to tell you Mr. Trump,
6
that this is a closing notice to a buyer
7
of the Fort Lauderdale project.
8
A.
Right.
9
Q.
Okay.
10 11
Did you see a draft of any such letter?
12
A.
I don't believe so, no.
13
Q.
Did this letter go out with your
14 15
approval? A.
16
Not that I know of. MR. RUSSOMANNO: I object to the
17
form.
18
Q.
As you sit here today, do you
19
feel that this letter was sent out -- was
20
a proper correspondence?
21
MR. RUSSOMANNO: I object to the
22
form.
23
A.
Well, I think Mr. Stillman and
24
SB Hotel did a great service to people
25
because if they closed, as I said, their
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D. J. Trump
2
units would be worth a lot less money.
3
He's just stating the facts.
4
seen this but he's stating the facts.
5
He's actually being very honorable in
6
sending such a letter.
7
speak to the lawyers.
8
the facts and, had people actually closed
9
on their unit, they would have lost a lot
I haven't
You'd have to But he is stating
10
of money because the unit values have gone
11
down so substantially.
12 13 14
Q.
When you say honorable, what do
you mean? A.
Well, he's stating facts that a
15
lot of people wouldn't state.
16
about the default notice, he talks about
17
other elements, and I think he saved these
18
people from losing a lot of value after
19
they purchased the unit.
20
Q.
He talks
Mr. Trump, are you basically
21
saying that, because he was honest in this
22
letter, he scared off buyers from closing?
23
MR. RUSSOMANNO: I object to the
24
form of the question.
25
A.
212-267-6868
He actually saved them a lot of VERITEXT REPORTING COMPANY www.veritext.com
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D. J. Trump
2
money because the values from the date of
3
this letter have gone down very
4
substantially.
5
Q.
6
May, 2000.
7
A.
8 9
That's not 2000.
No.
That's not
I think it's probably 2009.
Values have gone down very substantially. Q.
If you look at the second page
10
of this letter, Mr. Stillman or SB Hotel
11
Associates, LLC states that, "given the
12
uncharted economic climate," it goes on to
13
say that, "we do not believe that the
14
hotel operation will open if purchasers
15
have closed on fewer fifty percent of the
16
units in the condominium."
17 18
Do you believe that to be true at the time?
19
MR. GILLMAN: I object to form.
20
MR. RUSSOMANNO: I object to
21
form.
22
A.
He's stating his opinion.
23
Q.
What's your opinion?
24 25
MR. RUSSOMANNO: I object to form.
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D. J. Trump A.
My opinion is that their units
3
would have gone down in value and they're
4
lucky they didn't close.
5
Q.
What's your opinion as to the
6
statement that the hotel operation could
7
not open unless fifty percent of the
8
people closed?
9 10
MR. GILLMAN: Objection to the form.
11
MR. RUSSOMANNO: I object to the
12
form of the question.
13
A.
That's really up to SB and to
14
Mr. Stillman to say, not to me.
15
he's the developer, as I've told you
16
before.
17
would know that number better than us.
18
was the developer.
19
I didn't write the letter; he wrote it.
20
Q.
I'm not the developer.
I mean,
So he He
That was his opinion.
Did you or your organization
21
and/or its s have -- did you stay
22
abreast of the closing process --
23
A.
24 25
See abreast? MR. RUSSOMANNO: I object to the
form.
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D. J. Trump
2
Q.
Stay abreast.
3
A.
You mean stay abreast?
4
Q.
Well, English is not my first
5 6
language, Mr. Trump. A.
7 8
Okay. Well, that's good.
I have great
respect for that.
9
MR. RUSSOMANNO: I object to
10
form.
11
Q.
Thank you.
12
A.
What is your first language?
13
Q.
Korean.
14
A.
Okay.
15 16
So go ahead, what's your problem?
17 18
Excellent.
MS. BECK: Could you read back my last question, please.
19
(Whereupon the requested portion
20
was read back by the reporter).
21
Q.
22
Of the closing process and the
sales process.
23
MR. RUSSOMANNO: I object to
24
form.
25
A.
212-267-6868
We were watching but we were VERITEXT REPORTING COMPANY www.veritext.com
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D. J. Trump
2
really much more interested in making sure
3
that the hotel -- that the developer
4
completed the hotel.
5
interest because we were going to be
6
operating a hotel and unfortunately it
7
wasn't completed.
8 9
Q.
That was our primary
You, The Trump Organization or
its s, didn't have an interest in
10
making sure that people closed at certain
11
prices?
12
MR. RUSSOMANNO: I object to the
13
form.
14
A.
No, we didn't
as I said, we
15
were watching for the completion of the
16
hotel.
17
the hotel.
18
get it completed not only in standards but
19
they couldn't get it completed.
20
were certainly interested in seeing that
21
everybody got everything right.
22
watching the standards, we were trying to
23
make it good for everybody so that when
24
they did buy a unit, if they did buy a
25
unit, they would get a unit that was built
212-267-6868
We were getting ready to manage Unfortunately, they couldn't
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D. J. Trump to a high standard. Q.
What is your understanding of
4
whether or not a buyer can occupy the
5
unit?
6
MR. RUSSOMANNO: I object to the
7
form.
8
A.
9 10 11 12 13 14 15
You mean according to his
letter? Q.
Well, he references occupy
issues. A.
You'll have to ask Mr. Stillman
because he wrote the letter, I didn't. Q.
What is your understanding of
the occupancy?
16
MR. RUSSOMANNO: I object to the
17
form.
18
A.
I don't have an understanding.
19
I'm not the developer.
20
manage the hotel, hopefully.
21
manage the hotel.
22 23
Q.
We wanted to
You mentioned earlier that the
project was not completed.
24 25
All we did was
MR. RUSSOMANNO: Objection. Q.
212-267-6868
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D. J. Trump letter was sent out?
3
A.
That's correct, yes.
4
Q.
What is your definition of
5
completion?
6
MR. RUSSOMANNO: I object to the
7
form of the question.
8
Q.
When is a project --
9
A.
Completion as far as we're
10
concerned, because we're the manager of
11
the hotel, was when it was furnished and
12
ready and beautiful and everything was
13
perfect and the elevators were working
14
properly and all of the things that we
15
needed to operate a first class hotel.
16
They weren't done, unfortunately.
17
my definition of completed, furnished and
18
beautiful.
19
Q.
That's
It has nothing to do with
20
obtaining a certificate of occupancy from
21
the required authorities?
22 23
MR. RUSSOMANNO: I object to the form.
24 25
MR. GILLMAN: Objection to the form.
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D. J. Trump A.
We need more than a certificate
3
of occupancy.
We need furniture in the
4
rooms.
5
you can get a certificate of occupancy
6
without having it furnished but in the
7
meantime people bought hotel rooms and
8
they bought hotels.
9
don't know what their closing standard
Again, we're running a hotel.
So
From our standard, I
10
was, but from our standard, in of
11
running a first class operation, we needed
12
everything one hundred percent according
13
to Hoyle.
14
needed beautiful elevators, we needed it
15
to be done in a first class manner.
16
Q.
We needed furnishings, we
Were you aware that a
17
certificate of occupancy was obtained for
18
the building, for the project?
19
A.
Well, there may have been a
20
construction certificate of occupancy, but
21
you needed furnishing and you needed other
22
things.
23
probably know.
It was not in good shape, as you
24
MS. BECK: Exhibit 327.
25
(Whereupon, an e-mail dated
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D. J. Trump
2
May 13, 2009 was marked Plaintiff's
3
Exhibit 327 for identification.)
4
Q.
Mr. Trump, the first e-mail of
5
this chain is an e-mail from Mr. Schwarz
6
to Stillman and he states here, "with you
7
on the completion and Trump the direct and
8
proximate cause of the direct default.
9
guess we can all see where this is
10
heading."
11
default under the license agreement a
12
default under the loan."
I
And he goes on to say, "was a
13
Do you know if a default under
14
the license agreement is a default under
15
the loan?
16
MR. RUSSOMANNO: I object to the
17
form of the question.
18
A.
I would think so.
19
Q.
Why?
20
A.
Because --
21
MR. RUSSOMANNO: I object to the
22
form.
23
A.
-- they bought a high standard
24
building and unfortunately it wasn't being
25
built.
212-267-6868
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D. J. Trump
2
funded before this was sent because I had
3
heard it wasn't being funded prior to any
4
letters being sent.
5
was not at a level that it could have been
6
a hotel and it certainly was at a very low
7
standard.
8
had signed onto.
9
Obviously the hotel
It was not the standard that we
MS. BECK: We're going to go to
10
the original marketing materials.
11
Q.
12
You can look.
There's a
number --
13
A.
Okay.
I looked.
14
Q.
I'm going to introduce them into
15
the record again.
They are Exhibits 301,
16
302, 304, 305, 306, 307, 311, 312, 313,
17
and 314.
18
A.
Okay.
19
Q.
Have you seen these before?
20
A.
Yes.
21
Q.
They were all manufactured and
22
prepared with your approval?
23
MR. RUSSOMANNO: I object to the
24
form.
25
A.
212-267-6868
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D. J. Trump
2
approval, yes.
3
approved this.
Mr. Petrus would have
4
Q.
All these exhibits --
5
A.
Go ahead.
6
MS. BECK: Off the record for a
7
second.
8
(Discussion held off the record
9
at 12:21 p.m.)
10
(Whereupon the deposition
11
resumed at 12:21 p.m.)
12
Q.
Mr. Trump, there's text in these
13
marketing materials that I just showed
14
you.
15
A.
Okay.
16
Q.
Do you feel that that text is
17
accurate?
18
A.
19
You'd have to show me. MR. RUSSOMANNO: I object to the
20
form of the question.
21
Q.
22
overstate your involvement in the project?
23 24
Well, do you feel that they
A.
What are you referring to?
Show
me.
25
MR. RUSSOMANNO: I object to the
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D. J. Trump
2
form of the question.
3
Q.
For example, Exhibit 307 states,
4
"the signature development by Donald J.
5
Trump will become a destination for many
6
and a home for the select few."
7
A.
Well, I think that's standard
8
advertising language that frankly we were
9
hoping to have that, absolutely.
We have
10
a beautiful site on the water, yes.
11
were looking to have that.
12
have been a signature development or we
13
wouldn't have done it.
14 15
Q.
We
This would
You have other signature
developments; isn't that true?
16
A.
Yes, we do.
17
Q.
And your position is that those
18
signature developments are developed by
19
you, you are the developer?
20 21 22
A.
In some cases they're developed
by me and in some cases they're not. Q.
Why does this advertising
23
material not state this signature
24
development or this development by SB
25
Hotel Associates, LLC with Donald Trump as
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D. J. Trump licensor? A.
Well, according to my lawyers,
4
it's all over the documents, it's all over
5
the -- you can't put everything into a
6
small ad.
7
that I'm not the developer.
8 9 10 11
Q.
It's all over the documents
Well, what about the documents
before you with the advertising materials -A.
You can't put it in advertising
12
materials because there's not enough room.
13
But the documents they signed, it's all
14
over the place that I'm not the developer.
15 16
Q.
What happens if there are
statements that contradict each other?
17
MR. RUSSOMANNO: I object to the
18
form of the question.
19
A.
20 21
I don't see any contradiction.
I think it's very simple. Q.
It's your testimony that the
22
statement "this signature development by
23
Donald J. Trump" is consistent with the
24
position that Donald J. Trump is not a
25
developer of this project?
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D. J. Trump
2
MR. RUSSOMANNO: I object to the
3
form.
4
A.
Absolutely.
They've signed
5
documents that say I'm not the developer
6
of the site.
Absolutely.
7
Q.
What documents are those?
8
A.
My lawyers can show you.
9
MR. RUSSOMANNO: If you want him
10
to identify it.
11
Q.
Is it your testimony that -- I
12
was going to go through other texts here,
13
and we can do that or I can just ask
14
you --
15
A.
16 17
Go ahead and ask me whatever
you'd like. Q.
The text in these exhibits, is
18
it your testimony that they don't
19
overstate your involvement with the
20
project?
21
MR. RUSSOMANNO: I object to the
22
form of the question.
23
A.
No, my involvement with the
24
project is stated in agreements that
25
everybody signed.
212-267-6868
This is a very short
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D. J. Trump
2
form ad, mostly pictures, of what the
3
development is going to look like.
4
Q.
And you agree with the language
5
contained in these ments and
6
marketing materials?
7
MR. RUSSOMANNO: I object to the
8
form of the question.
9
A.
I believe it is a signature
10
development, yes.
11
this would have been a beautiful
12
development had they been able to complete
13
it.
14
less than what the people signed on to buy
15
it for.
16
This is a beautiful --
But it would have been worth a lot
Q.
Any text in these marketing
17
materials, are there any text in these
18
marketing materials that you would
19
disagree with?
20
MR. RUSSOMANNO: I object to
21
form.
22
A.
23
read them, and get back to you.
24 25
I would have to take them back,
Q.
Mr. Trump, we can do that right
now.
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D. J. Trump
2
This is Plaintiff's Exhibit 306.
3
Is that a letter prepared by
4 5 6
you? A.
Yeah, this is an advertising
letter.
7
Q.
That's your signature; yes?
8
A.
Yes, it is.
9
Q.
Do you stand by the statements
10
in that letter?
11
MR. RUSSOMANNO: I object to the
12
form.
13
A.
Well, I stand by the legal
14
documents that everybody signed.
15
a Trump International Hotel and Tower, it
16
is a magnificent oceanfront resort
17
offering the finest -- this would have
18
happened had the building been completed.
19
Unfortunately the developer wasn't able to
20
complete the building.
21
Q.
22 23
I understand. Do you stand by the statements
in this letter?
24 25
This is
MR. RUSSOMANNO: I object to the form of the question.
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D. J. Trump A.
I stand by the statements that
are in the document that everybody signed. Q.
5
But not this letter? MR. RUSSOMANNO: I object to the
6
form.
7
A.
I have no problem with that
8
letter.
But that's just a quick little
9
advertising piece.
But I stand by the
10
statements that are in the document that
11
everybody read and everybody signed and
12
everybody fully understands.
13
knew I wasn't the per se developer.
14
running it, I was managing it, and we were
15
going to manage it beautifully.
16
Unfortunately it never got completed.
17
Q.
And they I was
Okay.
18
Do you feel that the statements
19
in this letter which starts out with, "it
20
is great pleasure that I present my latest
21
development," this letter is consistent
22
with the documents that the buyers signed?
23
MR. RUSSOMANNO: I object to the
24
form.
25
A.
212-267-6868
I think it goes along with VERITEXT REPORTING COMPANY www.veritext.com
516-608-2400
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D. J. Trump
2
document.
3
goes along with the document.
4
document obviously is signed and in great
5
detail and it explains my role.
6
Q.
It's not one or the other. The
And this letter does not
7
contradict any document that a buyer
8
signed?
9
MR. RUSSOMANNO: I object to the
10
form.
11
A.
12 13 14
It
No, I don't think it
contradicts. Q.
Exhibits 311, 312, 313, and 314.
I didn't mention them earlier.
15
Mr. Trump, is there a difference
16
between being a developer of a project
17
versus a licensor/hotel manager of a
18
project from the building being completed
19
point of view?
20
MR. RUSSOMANNO: I object to the
21
form of the question.
22
A.
The developer would build the
23
building, would make sure that the
24
building is completed.
25
be licensing the name.
212-267-6868
The licensor would
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D. J. Trump
2
Q.
If a --
3
A.
To the developer.
4
Q.
Mr. Trump, if a building is
5
developed by you, would the Trump name be
6
removed from that building?
7
happen?
8 9 10
Could that
MR. RUSSOMANNO: I object to the form of the question. A.
If the bank took over the
11
building, it could.
12
unsuccessfully developed, the bank might
13
take the name off the building.
14 15
Q.
If it was
Is that decision the bank's
decision?
16
MR. RUSSOMANNO: I object to the
17
form.
18
A.
It depends.
If it was developed
19
by me and if it didn't work out and the
20
bank took it over, I guess the bank could
21
do whatever they wanted with the name.
22
They could leave it or take it off.
23 24
Q.
But that decision would not rest
with you; is that correct?
25
MR. RUSSOMANNO: I object to the
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2
form of the question.
3
A.
You're talking about if a
4
building was developed by me and was taken
5
back by a bank?
6
Q.
I'm talking about if a building
7
was developed by you, the way you
8
understand developer to be, you are the
9
developer of a building, would that
10
building lose the Trump name or the logo?
11 12
MR. RUSSOMANNO: Objection. A.
I mean, it's a very simplistic
13
question.
14
circumstances.
15 16 17 18 19
It depends under what
You mean if the building was successful? Q.
In any circumstance could it
lose it? A.
It depends.
It could lose it if
20
it had a mortgage and the bank took back
21
the building.
22
Q.
Let's think about all the
23
instances where that building could lose
24
the Trump name.
25
MR. RUSSOMANNO: I object to the
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2
form of the question.
3
Q.
If it loses that name, would, in
4
those instances, that decision rest with
5
you?
6
MR. RUSSOMANNO: I object to the
7
form of the question.
8
A.
9
Not in all instances, no. MS. BECK: Mr. Trump, I am told
10
that there's supposed to be a lunch
11
break today --
12 13
MR. GARTEN: Why don't we just keep going?
14
THE WITNESS: Why don't we just
15
finish it up and be done.
16
do that.
17 18
I'd rather
MR. RUSSOMANNO: Can we take a one-minute break for the restroom?
19
MS. BECK: Yes, of course.
20
going to say we take a five to
21
ten-minute break.
22
I was
THE WITNESS: You have to take a
23
one-minute break?
24
finish this?
25
one-minute break.
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Can we go on and
Let's not take a Your son can take
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D. J. Trump over.
3
MR. RUSSOMANNO: Let's go.
4
MS. BECK: Well, I have to go to
5
the bathroom.
6 7
THE WITNESS: So go to the bathroom.
8
MS. BECK: Off the record.
9
(Whereupon a break was taken at
10
12:31 p.m.)
11 12
(Whereupon the deposition resumed at 12:41 p.m.)
13
MS. BECK: Let the record reflect
14
Mr. Trump has left the room.
15
not clear whether he will return.
16
Herman Russomanno has indicated he
17
would like to state something on the
18
record.
19
It is Mr.
MR. RUSSOMANNO III: Let the
20
record reflect Herman Russomanno III
21
on behalf of Donald Trump and Trump
22
Organization.
23
Prior to a short recess, there
24
was an inquiry as to whether we can
25
complete the deposition.
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2
the plaintiffs initially indicated
3
that yes, they'll work through.
4
father asked for a bathroom break.
5
Counsel for Plaintiff agreed that she
6
would like a bathroom break.
7
My
We came back into the room and
8
counsel for the plaintiffs then made a
9
representation that she now needs a
10
one-hour break for medical conditions.
11
As all counsel in this room know,
12
there was never any objections
13
throughout the week for any medical
14
condition break and these medical
15
condition breaks every day up to today
16
took place at 2:30, 3:00.
17
deposition would have finished prior
18
to and counsel could have had the
19
medical condition.
This
20
The deposition was terminated,
21
as my father indicated on the record
22
earlier, pursuant to Federal Rule of
23
Civil Procedure 30(d)(3)(a).
24
Plaintiffs -- because of the annoying,
25
embarrassing, oppressiveness conduct,
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2
and bad faith by Plaintiff's counsel
3
in questioning, the deposition has
4
been terminated.
5
has a right to go back before the
6
court and get a court order to have
7
the deposition to be reconvened.
8
obviously the defendants will appear
9
and brief an opposition to that motion
10
Obviously counsel
And
should one be asserted.
11
Thank you.
12
MR. GILLMAN: Let me go on the
13
record to say that, as I said I would,
14
I was checking on whether or not Mr.
15
Schwarz could be available to conclude
16
or to go forward as Plaintiffs have
17
requested on Bayrock for the half hour
18
that you said that you indicated.
19
will be here Friday at 9:30.
20
MR. BECK: Thank you, Mr.
21
Gillman.
22
This is Jared Beck on behalf of all
23
Plaintiffs.
24 25
He
Thank you, Mr. Russomanno.
First to address Mr. Gillman, we appreciate that accommodation and we
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2
will take or continue with Bayrock's
3
deposition at the time indicated.
4
assume that's going to be before we
5
start the deposition of SB Hotel, I
6
believe it is?
7
I
MR. GILLMAN: I think the SB
8
Hotel is starting tomorrow.
You've
9
noticed the deposition of Mr. Stillman
10
individually and as SB and I've
11
advised that Mr. Stillman will be the
12
representative, the designee of it.
13
expect and understand that there would
14
be no intention to repeat questions
15
from one deposition to the other.
I
16
MR. BECK: Right.
17
MR. GILLMAN: Mr. Stillman, when
18
he answers on Thursday, tomorrow, will
19
be answering in both capacities.
20
Obviously to the extent that there's
21
something that doesn't get concluded,
22
we would carry over on Friday.
23
Is that agreed?
24
MR. BECK: Let me just say I
25
think maybe we'll be able to clarify
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2
this maybe more when the deposition
3
starts.
4
there's a distinction between the two,
5
there may be not, and maybe it's
6
better left tomorrow when we bring out
7
the deposition notice of SB Hotel and
8
we look at those topics and then maybe
9
you can restate that at that time and
There may be instances where
10
we can -- our intention certainly is
11
not to keep Mr. Stillman --
12
MR. GILLMAN: The standard
13
procedure, which I assumed we will
14
follow, is that Mr. Stillman will be
15
answering and I'm telling you he'll be
16
answering the questions as designee
17
and as individually.
18
particular question that you think
19
needs to be differentiated, we can do
20
it at the time.
If there's some
21
MR. BECK: I understand that and
22
we're going to do our best to respect
23
Mr. Stillman's time.
24
appreciate the accommodation on
25
Bayrock.
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2 3
MR. RUSSOMANNO III: So Julius is going when, Bayrock?
4
MR. BECK: Friday.
5
MR. GILLMAN: He's unavailable
6
tomorrow.
7
MR. BECK: So I appreciate that.
8
Let me now turn to Mr.
9
Russomanno's statement.
10
We strenuously object that any
11
portion of this deposition was
12
harassing or intended to harass or
13
outside the boundary of what the
14
Federal Rules of Civil Procedure
15
provide and the transcript will be
16
quite clear on that.
17
to be for another date and time and I
18
don't think we need to sit here and
19
argue the merits of that now.
20
But that's going
As to the issue of Mr. Trump
21
apparently getting up and leaving the
22
room and his attorneys and him
23
terminating this deposition prior to
24
us getting in our entitlement under
25
the Federal Rules of Civil Procedure,
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2
I think we ended at, by my ,
3
12:30 and we began at approximately
4
10:30.
5 6
Is there any disagreement to that?
7
MR. RUSSOMANNO III: None.
We
8
were here for about two hours, I
9
agree.
10
MR. BECK: We were advised by the
11
law firm of Kramer Levin which we went
12
out of our way to actually shift the
13
deposition from the originally noticed
14
location -- at Mr. Trump's attorneys'
15
request we shifted the deposition to
16
this location at his request and
17
throughout this week we've been in
18
communication with representatives of
19
Kramer Levin law firm who have been
20
coordinating this deposition.
21
advised the Russomanno firm in
22
conjunction with the shifting of the
23
location to these offices, the Kramer
24
Levin offices where we're situated,
25
that Ms. Beck, who's also counsel for
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2
the plaintiff and was conducting --
3
counsel for the plaintiffs and was
4
conducting the deposition of Mr.
5
Trump, that she would require a break
6
during the deposition at some point to
7
take care of a medical condition.
8 9
Now, prior to today's -- and we have been taking those breaks and we
10
have been accommodated in that respect
11
throughout the week.
12
were accommodated in that respect
13
during the deposition of Mr. Schwarz
14
and on Tuesday we were accommodated in
15
that respect during the deposition,
16
corporate deposition, of The Trump
17
Organization.
18
So on Monday we
Prior to today's deposition, we
19
were sent e-mails indicating that
20
there was going to be a lunch break
21
during this deposition.
22
these e-mails by representatives of
23
the Kramer Levin law firm.
24
asked if we wanted to order anything
25
for lunch.
212-267-6868
We were sent
We were
We were notified that
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2
there were lunch reservations for five
3
people and based on those e-mails it
4
was our understanding that the
5
deponent had requested a lunch break
6
to commence at 12:30.
7
has requested that I produce those
8
e-mails to him.
9
certainly do so in advance of any
Mr. Russomanno
I will do so.
I'll
10
motion practice on this issue.
11
don't have them in any form that I can
12
produce them now; I have to go back
13
into my e-mails and get those.
14
But I
As such, Ms. Beck scheduled her
15
medical condition treatment around the
16
assumption that there was going to be
17
a break at 12:30 and prepared herself
18
this morning pursuant to what we
19
understood was going to be a break in
20
the deposition.
21
12:30, the break was requested through
22
Mr. Russomanno -- is it Senior?
23 24
When it came time to
MR. RUSSOMANNO III: That's fine, Senior.
25
MR. BECK: The elder Russomanno.
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2
We requested privacy -- the medical
3
condition is somewhat of a sensitive
4
issue.
5
have an open discussion about it with
6
Mr. Trump seated here.
7
want to reflect for the record that
8
Mr. Trump, from our perspective,
9
behaved in a quite insulting manner
Obviously we didn't want to
And I also
10
throughout the course of the
11
deposition, accusing of us not knowing
12
what we were doing, calling us crazy,
13
and so forth.
14
But be that as it may, we asked
15
Mr. Russomanno, the time having come
16
to 12:30, let's proceed to the break
17
that was scheduled, provided to us was
18
necessary pursuant to the medical
19
breaks we've been taking throughout
20
this week and Mr. Trump appeared to
21
get very animated, agitated, even more
22
hostile at that point, indicating that
23
he would under no circumstances allow
24
for a break of any kind even after he
25
was advised of the medical nature of
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2
it, even after he was advised that the
3
Kramer Levin law firm had previously
4
advised us of the necessity or the
5
scheduling, I should say, of a lunch
6
break at 12:30, in fact even had
7
solicited our reservations for lunch
8
this morning.
9
Ms. Merrill.
10 11
And I believe that was I just don't have --
MS. BECK: I believe she's a paralegal at the firm.
12
MR. BECK: The bottom line is
13
that Mr. Trump, from our viewpoint,
14
stormed out of this deposition at that
15
point in time.
16
completely unjustified manner.
17
was no basis for terminating this
18
deposition after just two hours of
19
testimony on extremely relevant
20
documents and we believe the record
21
will reflect that.
22
-- at one point he said we should just
23
come back to New York in two weeks.
24 25
He did so in a There
He actually asked
Be that as it may, we strenuously disagree with Mr. Trump's
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D. J. Trump
2
conduct in storming out of the
3
deposition.
4
with his lawyers' apparently advising
5
him to cease giving testimony, and we
6
believe this is grounds for sanctions.
7
We intend to file a motion for
8
sanctions with the court.
9
to file a motion to reopen the
We strenuously disagree
We intend
10
deposition.
11
recovery of our fees and costs for
12
doing so against Mr. Trump and The
13
Trump Organization, and we'll file
14
those motions when we get back to
15
Florida.
16 17
And I think that covers our position.
18 19
We intent to seek
Ms. Beck, is there anything that you can think of?
20
MS. BECK: I would just like to
21
state on the record that we will stay
22
here for the next hour.
23
Russomanno, if your client would
24
reconsider coming back and completing
25
the deposition, we remain willing to
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If Mr.
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D. J. Trump
2
do so.
3
conference room for the next hour.
4
You can send me an e-mail or call me.
5
If you can let me know now, if would
6
be appreciated, but perhaps you would
7
like to reserve that option.
8
So we will stay in this
MR. BECK: I don't know the -- I
9
assume that Kramer Levin wouldn't have
10
a problem with us staying here for the
11
next hour under that representation.
12
Is that fair?
13
MR. RUSSOMANNO III: When you
14
guys are done, let me know.
15 16
MR. BECK: That was more of a question to you.
17 18
MR. RUSSOMANNO III: I don't think they'll care.
19
MS. BECK: Can you state for
20
certain whether or not your client
21
will come back today?
22 23
MR. RUSSOMANNO III: Are you guys done?
24 25
And then I'll go. In response, we'll let the
record speak for itself in of
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2
the deposition conduct in which the
3
deposition was terminated per the
4
federal rules.
5
As we all know in this room,
6
there was no e-mails exchanged between
7
my law firm, me, and the Beck and Lee
8
firm in regard to lunch today and in
9
regard to what time lunch was being
10
scheduled.
11
that we would take lunch at 12:30.
12
There was no notice prior to the
13
deposition starting that Ms. Lee
14
needed to take a break at 12:30 for
15
one hour.
16
reflect that.
17
There was no agreement
And we'll let the record
In of -- the only thing I
18
want to make clear is that you must
19
have only assumed that we had advised
20
Mr. Trump to leave because you don't
21
know that for a fact.
22
communications here on that.
23
deposition was terminated per the
24
federal rules.
25
There was no And the
The only other thing that I
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2
would add is that, since Mr. Beck made
3
a comment about the off-record conduct
4
or alleged conduct of Mr. Trump, the
5
record would also like to reflect that
6
it's the defendants' position that
7
there was improper conduct by Ms. Lee,
8
not Mr. Beck who I think is a complete
9
gentleman and a professional.
And I'm
10
not going to get into the details of
11
that --
12
MS. BECK: I would like to ask
13
you on the record what conduct you're
14
referring to.
15
MR. RUSSOMANNO III: If you
16
screaming back and forth with Mr.
17
Trump is the conduct that I'm
18
referring to --
19 20
MS. BECK: I disagree with your characterization of it.
21 22
MR. BECK: Now is not the time for argument.
23
MR. RUSSOMANNO III: I usually
24
don't reference to off-the-record
25
conduct, but because Mr. Beck did
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2
reference to the off-the-record
3
conduct of Trump, I wanted to mention
4
that.
So that's fair.
5
That's all I have to say.
6
MR. BECK: I apologize for
7
prolonging this, but I just have to
8
make one more comment since we delved
9
into the territory of off-record
10
conduct.
11
For the record, I typically
12
abide by your practice, Mr.
13
Russomanno, except in situations where
14
we're talking about a potential motion
15
to reopen the deposition.
16
to tell the judge why we believe the
17
deposition was terminated.
18
have to -- there may be indications of
19
why -- in the off-record conduct.
We may have
That may
20
MR. RUSSOMANNO III: I have no
21
problem with you putting off-record
22
conduct just as long as I've made my
23
comment, without getting into details
24
which I don't think it necessary.
25
MR. BECK: I'd just like to make
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D. J. Trump an amendment to that.
3
Yesterday at around 5:00, by my
4
approximation, we were asked to move
5
this deposition to the Trump
6
headquarters.
7
at Kramer Levin for quite some time.
8
And that request was given to us by
9
Alan Garten, who we understand to be
This had been noticed
10
Trump's in-house counsel.
11
ed in by Mr. Russomanno, the
12
younger, and the reason given by Mr.
13
Garten was that Mr. Trump had
14
appointments in the morning and for
15
that reason needed to be in his office
16
in order to proceed with the
17
deposition.
18
proposition to move the deposition.
19
We did not consent to that.
20
Garten seemed fairly agitated about
21
our refusal to move the deposition
22
that had long been noticed at Kramer
23
Levin.
24 25
It was
We disagreed with the
And Mr.
That said, I just want to make sure that those facts are reflected in
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D. J. Trump the record as well.
3
MR. RUSSOMANNO III: Well, if you
4
want to mention that, that was a moot
5
issue because the deposition took
6
place at Kramer Levin today at 10:30.
7
Mr. Trump was on time and he was here
8
and we're all here.
9
If you want to address that
10
issue, I don't see the need for it,
11
but if you want to we can let the
12
record reflect that the request to
13
move the deposition by Mr. Garten was
14
rejected by Plaintiff's counsel based
15
upon the fact that Bayrock's
16
deposition allegedly ended early,
17
which obviously had nothing to do with
18
Trump or Trump Org.
19
But I don't think we should
20
waste any more time on this issue
21
because it's a moot issue.
22
deposition was at Kramer Levin at
23
10:30, on time, and there was no
24
problem with that after we left.
25
The
MR. BECK: I just want to add a
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2
couple of points because you say it's
3
a moot issue.
4
moot issue.
5
I don't think it's a
The reason I say that is, first
6
of all, the reason that the request
7
was rejected is because, after the
8
first day of deposition, it became
9
clear to us that our ability to take a
10
seven-hour deposition was going to be
11
somewhat a contested issue in this
12
case and I'll leave it at that.
13
That's why we rejected the request
14
yesterday.
15
simply wasn't convenient for us to
16
move the deposition.
17
noticed here and we are more
18
comfortable in not being in Mr.
19
Trump's offices and certainly after
20
his conduct today I will emphasize
21
that fact.
22
In addition, it just
It had been
That said, it became -- looking
23
back, putting those facts yesterday in
24
context, the facts today, it is our
25
opinion -- and we will bring this
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Case 1:09-cv-21406-KMW Document 230-1 Entered on FLSD Docket 06/04/2012 Page 152 of 175
Page 152 1
D. J. Trump
2
before the court -- that Mr. Trump had
3
no intention of sitting for a
4
seven-hour deposition today and we
5
believe that his terminating the
6
deposition after two hours is a
7
consequence of that.
8 9
MR. RUSSOMANNO III: Anybody else?
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MR. GILLMAN: What time are we starting tomorrow?
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MR. BECK: 10:00.
13
(TIME NOTED:
1:03 p.m.)
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________________________ (Signature of witness)
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Subscribed and sworn to
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before me this_________
17
day of________________,
18
2011.
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_______________________
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Page 153 1 2
*
*
*
3 4
I N D E X
5
WITNESS
EXAMINED BY
6
D. J. Trump
Ms. Beck
PAGE 4
7 8 9 10
E X H I B I T S PLAINTIFF'S
DESCRIPTION
PAGE
Exhibit 323 Document entitled
11
Re-Notice of Taking
12
Deposition
4
13
Exhibit 324 Copy of a newspaper
14
article
95
15
Exhibit 325 E-mail dated
16
May 13, 2009
17
Exhibit 326 Letter dated
18
June 2, 2009
19
Exhibit 327 E-mail dated
20
May 13, 2009
97
97
119
21 22
*
*
*
23 24 25
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Case 1:09-cv-21406-KMW Document 230-1 Entered on FLSD Docket 06/04/2012 Page 155 of 175 Page 155 1 2
ERRATA SHEET VERITEXT/NEW YORK REPORTING, LLC
3 4
CASE NAME: DATE OF DEPOSITION: WITNESS' NAME:
TRILOGY V. SB HOTEL November 16, 2011 DONALD J. TRUMP
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
PAGE/LINE(S)/ CHANGE REASON ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________
________________________ WITNESS SUBSCRIBED AND SWORN TO BEFORE ME THIS______DAY OF_______________,2011. _______________________ NOTARY PUBLIC
24 25
MY COMMISSION EXPIRES__________________ * * *
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Case 1:09-cv-21406-KMW Document 230-1 Entered on FLSD Docket 06/04/2012 Page 156 of 175 Page 1
[& - adds] & & 1:18 2:3,9,16 0 000179 95:23 0003086 97:17 0003097 97:21 09-21406 1:9 1 10022 3:6 10:00 152:12 10:30 139:4 150:6 150:23 10:31 1:11 1177 1:18 119 153:20 124 28:22 128 28:22 129 28:22 12:21 122:9,11 12:30 139:3 141:6 141:17,21 142:16 143:6 146:11,14 12:31 133:10 12:41 133:12 13 97:14 120:2 153:16,20 130 28:22 133 37:7 47:10 142 5:2 7:20 143 5:2 18:6 19:7 15 47:6 60:5 150 2:18 1500 2:12 1533 45:25 1535 47:21 16 1:11 155:4 168 109:9 110:22 169 78:21 81:3 93:15 94:9 176 78:21 82:10 93:14 180 95:23
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181 78:21 86:20 93:14 182 78:21 93:14 183 78:21 89:25 184 78:22 91:15 93:14 186 78:22 91:23 1970s 6:3 198 50:18 56:17 70:4,8 199 50:18 1:03 152:13 1tril 95:23 2 2 97:24 109:7 153:18 200 50:18 56:11 97:6 2000 113:5,6 2004 69:18 2006 47:6 60:5 2009 97:14,24 113:7 120:2 153:16,18,20 201 2:12 69:14 70:19 2011 1:11 152:18 154:24 155:4,22 202 60:23 203 65:25 204 66:23 205 66:23 214 71:24 73:18 215 71:24 72:9 73:19 24 69:23 243 45:6 244 48:11 50:8 245 57:22 61:23 248 74:9 75:4,6 249 74:9 75:4 76:10 77:8 2:30 134:16
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9 95 153:14 960,000 43:24 97 153:16,18 9:30 135:19 a a.m. 1:11 abide 148:12 ability 151:9 able 8:2 43:16 107:22 126:12 127:19 136:25 abreast 114:22,23 115:2,3 absent 31:6 absolutely 105:4 106:17 123:9 125:4 125:6 accommodated 140:10,12,14 accommodation 135:25 137:24 139:2 ant 43:10,11 44:7,9 45:4 ants 39:9 91:13 accurate 19:15 122:17 accusing 142:11 act 30:6 32:4,12 action 154:18 actual 33:15 ad 124:6 126:2 add 96:12 147:2 150:25 adding 96:5 addition 151:14 additional 56:23 address 135:24 150:9 addressed 90:6 adds 96:6,20
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[it - bank] it 7:13 advance 7:2 141:9 ments 126:5 advertising 42:24 123:8,22 124:9,11 127:5 128:9 advised 136:11 139:10,21 142:25 143:2,4 146:19 advising 144:4 d 87:17,22 87:24 s 43:18 44:14 102:12 114:21 116:9 aforesaid 154:8 agitated 142:21 149:20 ago 13:22 36:4 37:6 agree 97:8 99:2 126:4 139:9 agreed 134:5 136:23 agreement 26:9 27:18 37:14 38:10 38:17,24 47:8,13 48:17 49:5,9,11,16 49:20,21 50:23 51:5 51:11,16 52:6,16 54:12,14,23 57:6 59:21 60:4 61:4 62:5,16 63:15 66:3 66:15,19,21 67:13 67:22 68:3 69:3,17 69:25 70:3,17,19 71:2 80:8,11,13,14 80:15 81:7,8 83:18 84:14 86:10,12 91:21 99:14,16,20 101:13 120:11,14 146:10 agreements 44:21 50:16 57:2 90:12 125:24
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ahead 22:24 28:23 45:7 53:18 70:15 86:21 90:2 98:8 115:15 122:5 125:15 al 1:4,7 alan 3:7 149:9 alert 105:22 alleged 147:4 allegedly 150:16 allen 43:12 allow 142:23 amended 32:25 66:22 amendment 54:14 56:15 149:2 amendments 51:4 51:16 70:9,17 americas 1:19 amount 42:2 43:24 44:2 106:2 107:3 108:6,17 109:7 animated 142:21 annoying 134:24 annoys 30:19 annual 17:10 answered 78:16 110:24 111:3 answering 136:19 137:15,16 answers 136:18 anticipate 10:13,19 anticipated 106:11 anticipates 10:18 anybody 10:17 58:12 152:8 anyway 82:8 apartments 107:5 apologize 148:6 apparently 138:21 144:4 appear 135:8 appeared 142:20 applicable 57:6
appointments 149:14 appreciate 135:25 137:24 138:7 appreciated 145:6 approval 9:11 29:10 111:14 121:22 122:2 approve 29:18 33:9 approved 122:3 approximately 139:3 approximation 149:4 area 10:4 105:19 argue 138:19 argument 147:22 arif 14:8 15:9,13,20 arizona 108:9 article 7:19 9:18 20:4,17,22 95:19 96:2,17 153:14 articles 5:6 artistic 36:5 asked 31:14 54:24 59:10 63:8,18 78:15 94:23 134:4 140:24 142:14 143:21 149:4 asking 22:19,19 44:22 46:21 47:4,11 58:22 asserted 135:10 associated 41:2 57:15 106:9 associates 1:7 2:10 62:6 63:25 64:8,16 66:7 80:24 81:9 86:23 92:14,19 100:9 113:11 123:25 assume 54:4 58:17 68:8,11,12 136:4 145:9
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assumed 38:23 137:13 146:19 assumption 141:16 attention 52:4 56:11 61:23 96:16 attorney 7:8 82:23 attorneys 2:4,10,17 40:15 55:8 57:19 61:15 83:22 138:22 139:14 audience 36:14 authentically 56:3 authenticated 55:24 56:6 authorities 118:21 available 108:24 135:15 avenue 1:18 3:5 11:16,18 aware 77:13 103:6 109:5,8 119:16 b b 2:14 41:25 43:25 52:5 153:8 back 52:15 66:24 67:4,5 108:5,5,5,21 108:24 115:17,20 126:22,23 131:5,20 134:7 135:5 141:12 143:23 144:14,24 145:21 147:16 151:23 background 5:17,18 6:16 7:5 19:12 20:11 backwards 62:2 bad 13:6 30:18 83:24 105:7,8,9,10 106:25 135:2 bank 46:7 48:23 49:4,12,16,25,25 50:5 59:10,11,11,12 60:7,13 63:8,14,17 80:17,20 81:6,12,20 516-608-2400
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[bank - case] 81:25 82:5,8 98:24 100:2,21,23 101:2,4 101:17 102:3,9,13 103:5,6,11,16,17,23 103:24 106:21 130:10,12,20,20 131:5,20 bank's 130:14 banks 50:16 63:15 bar 83:4 based 17:11,12,14 32:24 141:3 150:14 basically 52:24 58:4 60:6 74:16 76:23 105:13 112:20 basics 73:7 83:6 basis 143:17 bates 55:4,10 95:22 97:16,20 bathroom 133:5,7 134:4,6 bay 95:23 bayrock 2:11 10:20 11:2 12:2 13:18,24 14:10,12,16,25 16:13,14,17 18:20 18:21 20:2,21,23 25:11,18 34:20,22 35:7,17,24 36:7,12 36:25 37:15 38:10 47:4,8,13 50:24 65:6,6,12 67:7 68:14 69:8 74:17,19 74:23,25 75:3 89:10 135:17 137:25 138:3 bayrock's 136:2 150:15 beautiful 12:16 73:5 75:17 106:16,17 118:12,18 119:14 123:10 126:10,11 beautifully 128:15 beck 2:3,6,7 4:7,8 6:18,23 23:24,25 212-267-6868
30:3 31:22 32:6 33:2 45:10,19 61:21 70:14 80:5 95:17,22 97:11,16 115:17 119:24 121:9 122:6 132:9,19 133:4,8,13 135:20,22 136:16 136:24 137:21 138:4,7 139:10,25 141:14,25 143:10 143:12 144:18,20 145:8,15,19 146:7 147:2,8,12,19,21,25 148:6,25 150:25 152:12 153:6 beckandlee.com 2:7 2:8 becoming 68:14 began 139:3 beginning 87:10 90:13 behalf 47:17 63:5 133:21 135:22 behaved 142:9 belief 14:23 63:17 64:18 65:19 84:7 believe 10:2,5 13:25 14:8 16:14,25 25:18 27:14,15,17,24 29:2 38:5 41:19,21 46:17 49:22,22 51:21 55:21 62:13 64:17 64:23,25 76:14 92:11 95:4,11 99:22 111:12 113:13,17 126:9 136:6 143:8 143:10,20 144:6 148:16 152:5 best 137:22 better 53:2 114:17 137:6 beverage 72:11 big 15:6 103:24 bio 6:17,19,21,22 7:7
biography 7:10 biscayne 2:12 bit 5:16 9:23 14:13 32:18 85:15 105:20 black 109:14 blood 154:18 borrello 2:16 bottom 55:4 56:13 96:18 109:17,22 143:12 bought 68:12 107:5 119:7,8 120:23 boulevard 2:12 boundary 138:13 bowen 2:9 brand 86:11 breach 83:17 break 23:2,4 132:11 132:18,21,23,25 133:9 134:4,6,10,14 140:5,20 141:5,17 141:19,21 142:16 142:24 143:6 146:14 breaks 134:15 140:9 142:19 brick 42:19 bricks 23:11 brief 135:9 bring 137:6 151:25 brochures 72:24 broken 14:15 brokerage 96:20 build 21:7 24:23,25 69:3 129:22 building 11:9,15,23 12:7,8,16,17 16:5,8 16:9,11 21:6,7,8,9 21:12,13,16,25,25 22:3 23:9,9,11 24:23,25 25:7 26:2 26:11 28:13 33:14 33:16,22,23 34:6,7 34:8 35:18,18 53:2 68:20 69:8,9 84:5,8
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84:15,22,24 85:3,8 85:8,10,10,17 86:7 88:12,15 89:21 92:19 96:6,11 99:25 103:2 104:24 106:8 106:9,17,22 108:14 109:6 110:7,7,13 119:18 120:24 127:18,20 129:18 129:23,24 130:4,6 130:11,13 131:4,6,9 131:10,15,21,23 buildings 6:11,12,13 11:14 53:2 73:5,6 built 6:11 12:25 13:9 21:6,11 33:14 33:16,24 34:6,9 87:6,7 92:19 103:3 106:25 108:14 116:25 120:25 buy 116:24,24 126:14 buyer 111:6 117:4 129:7 buyers 112:22 128:22 c c 2:2 3:2 california 108:9 call 145:4 called 13:21,24 16:6 107:24 calling 142:12 cancelled 67:14 capacities 136:19 capacity 4:23 63:4,9 care 140:7 145:18 carry 136:22 case 1:9 9:14,15,16 11:10 22:23 49:3 60:20 61:17 68:8 103:21 151:12 155:3
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[cases - continuation] cases 59:4 97:3 105:12 123:20,21 cause 98:24 120:8 ccvprod 97:17,21 cease 144:5 center 2:12 central 28:11 certain 80:7 85:19 90:22 110:15 116:10 145:20 certainly 15:3,5 28:9 32:16 44:18 69:5 116:20 121:6 137:10 141:9 151:19 certificate 58:3,7,18 58:21 63:18 118:20 119:2,5,17,20 certificates 57:24 58:17 59:3,14 60:14 62:25 63:3 101:25 102:5,11 certification 154:2 certify 154:5,16 cessation 98:25 cetera 27:9 42:20 58:14,14 59:20,20 chain 76:22 120:5 change 60:9 155:5 changed 75:18 changes 75:11 characterization 147:20 charge 96:22 check 12:19 17:13 17:18 19:12 checking 135:14 chicago 27:25 28:10 children 40:10 choice 82:5 84:3,6 102:3 circumstance 131:17 circumstances 131:14 142:23 212-267-6868
civ 1:9 civil 30:12 134:23 138:14,25 clarify 136:25 class 41:25 43:25 118:15 119:11,15 clear 22:15 31:6 92:17 133:15 138:16 146:18 151:9 client 144:23 145:20 clients 104:10,17 105:2,24 106:5 107:2,7 climate 113:12 close 104:11,19 105:3 108:15 114:4 closed 111:25 112:8 113:15 114:8 116:10 closing 111:6 112:22 114:22 115:21 119:9 closings 110:15 college 6:2 column 96:19 come 11:7 41:14 86:2,7 142:15 143:23 145:21 comfortable 151:18 coming 57:13 144:24 commence 141:6 commencement 154:10 comment 30:2 147:3 148:8,23 comments 31:9,16 32:7,11,20 commission 155:24 common 53:25 communication 139:18 communications 146:22
companies 13:24 27:11 71:4 87:17,22 87:24 109:15 company 6:7 17:25 21:5,5 24:12 38:5 43:14 58:12,19 62:14,17 63:20 64:4 64:5 65:10 66:4,13 72:20 73:13,25 74:6 77:11 78:5,9,13 79:2,8,14,17,22,23 80:23 87:20 88:9,10 89:8,15,22 90:11,24 106:22 109:16 compared 107:19 108:6 compensation 41:25 complaint 32:25 complete 6:22 83:3 84:9 110:14 126:12 127:20 133:25 147:8 completed 12:17 84:6,16 106:23 110:6,7,10,12 116:4 116:7,18,19 117:23 118:17 127:18 128:16 129:18,24 completely 143:16 completing 22:3 144:24 completion 83:17 116:15 118:5,9 120:7 component 53:13 concern 106:7,14 concerned 108:25 118:10 conclude 135:15 concluded 136:21 concrete 22:2 23:11 24:12,13,18 42:19 condition 60:14 110:14 134:14,15 134:19 140:7
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141:15 142:3 conditions 106:4 110:2 134:10 condo 13:12 condominium 16:9 96:22 113:16 conduct 134:25 144:2 146:2 147:3,4 147:7,13,17,25 148:3,10,19,22 151:20 conducted 30:17 conducting 140:2,4 conference 145:3 confidential 109:22 congratulate 106:5 conjunction 34:20 97:18 139:22 connection 18:23 25:12 26:17 104:5,7 consent 149:19 consequence 152:7 consider 23:12 considerably 106:10 considering 35:8 consistent 124:23 128:21 constitute 83:17 constructing 21:16 construction 21:17 25:7 27:7 36:23 41:2 42:4,18 77:10 77:24 78:5,8,13 83:3 109:6 119:20 contained 7:15 126:5 contains 7:9 contemplating 68:14,19 69:8 content 87:3 contents 93:15 contested 151:11 context 151:24 continuation 91:17 91:25 516-608-2400
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[continue - deposition] continue 20:18 136:2 continued 3:2 contract 13:3 48:23 contractor 23:13,16 contractors 22:7 contradict 124:16 129:7 contradiction 124:19 contradicts 129:12 control 25:8 39:3 79:17,23 100:10,14 100:17,20 102:18 102:21 controversy 154:20 convenient 151:15 conversation 87:4 99:18 conversations 99:23 coordinating 139:20 copied 80:18 copies 98:5 copy 37:4 45:18 82:2 95:18 153:13 copying 81:20 corporate 140:16 correct 7:11 21:3,4 25:2 26:10,13,14 40:2,3 47:24 51:2,3 64:17 69:10,13,19 81:10 82:12 91:19 96:7 118:3 130:24 correspondence 80:18 91:18 92:2 111:20 corus 46:7 49:25 50:5 59:11 80:20 81:6,12 100:22 102:13 103:6,11,16 106:21 cost 43:3 costs 40:25 42:4,17 42:18,21,22,23 43:6 57:4 144:11 212-267-6868
counsel 30:5 31:21 32:14 133:25 134:5 134:8,11,18 135:2,4 139:25 140:3 149:10 150:14 154:21 couple 15:20 28:10 151:2 course 132:19 142:10 court 1:2 30:6 45:10 135:6,6 144:8 152:2 cover 32:23 covered 55:22 covers 144:16 crash 10:14,19 104:2,6 crashed 10:9 12:24 107:7 crashes 10:18 crazy 142:12 create 40:16 created 29:9 40:17 72:15 currently 17:2 curtain 22:2 d d 4:2,2 5:1 6:1 7:1 8:1 9:1 10:1 11:1 12:1 13:1 14:1 15:1 16:1 17:1 18:1 19:1 20:1 21:1 22:1 23:1 24:1 25:1 26:1 27:1 28:1 29:1 30:1,13 31:1 32:1 33:1 34:1 35:1 36:1 37:1 38:1 39:1 40:1 41:1 42:1 43:1 44:1 45:1 46:1 47:1 48:1 49:1 50:1 51:1 52:1 53:1 54:1 55:1 56:1 57:1 58:1 59:1 60:1 61:1 62:1 63:1 64:1 65:1 66:1 67:1 68:1 69:1 70:1
71:1 72:1 73:1 74:1 75:1 76:1 77:1 78:1 79:1 80:1 81:1 82:1 83:1 84:1 85:1 86:1 87:1 88:1 89:1 90:1 91:1 92:1 93:1 94:1 95:1 96:1 97:1 98:1 99:1 100:1 101:1 102:1 103:1 104:1 105:1 106:1 107:1 108:1 109:1 110:1 111:1 112:1 113:1 114:1 115:1 116:1 117:1 118:1 119:1 120:1 121:1 122:1 123:1 124:1 125:1 126:1 127:1 128:1 129:1 130:1 131:1 132:1 133:1 134:1 134:23 135:1 136:1 137:1 138:1 139:1 140:1 141:1 142:1 143:1 144:1 145:1 146:1 147:1 148:1 149:1 150:1 151:1 152:1 153:4,6 damages 105:5 107:2,7 date 35:12 58:5 59:20,23 60:3,10 113:2 138:17 155:4 dated 47:6 69:18 97:13,23 119:25 153:15,17,19 daughter 81:6 86:24 day 134:15 151:8 152:17 154:23 155:21 deal 11:8,25 12:4,13 12:18,24 14:3,6 15:24,25 39:21 40:12,13 41:18 44:13 86:2,8 101:3 deals 50:17
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dealt 101:2 death 104:21 december 47:6 60:5 decide 86:18 decided 34:22 decision 9:2,4,5,10 14:25 15:6 76:4 130:14,15,23 132:4 default 79:3,7,8,13 79:23 82:11,18 83:24 98:24 99:10 99:11,13,15,21 100:4,5,7 112:16 117:25 120:8,11,12 120:13,14 defaulted 78:25 79:4,5 80:24 81:10 85:2 defaulting 86:23 defaults 58:14 defendants 1:8 2:10 135:8 147:6 define 21:12,18 25:3 definition 95:10 118:4,17 delay 83:16 delayed 83:7,11 85:15 delved 148:8 demand 82:2 demanded 82:5 demands 30:22 denied 30:3,7 31:17 31:25 depends 40:12 59:10,12 96:10,11 130:18 131:13,19 deponent 30:15,20 30:21 31:5,12 141:5 deposition 1:15 4:10 4:17,20 30:11,14,16 30:22 122:10 133:11,25 134:17 134:20 135:3,7 136:3,5,9,15 137:2 516-608-2400
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[deposition - entails] 137:7 138:11,23 139:13,15,20 140:4 140:6,13,15,16,18 140:21 141:20 142:11 143:14,18 144:3,10,25 146:2,3 146:13,23 148:15 148:17 149:5,17,18 149:21 150:5,13,16 150:22 151:8,10,16 152:4,6 153:12 155:4 depositions 5:19 32:11 depreciated 105:14 105:18,20 depreciation 107:13 107:20 describe 28:4 description 153:9 designee 136:12 137:16 destination 123:5 destructive 81:21 82:3 detail 72:4 129:5 details 73:8 147:10 148:23 determine 93:3,10 determines 72:14 75:23 develop 11:9 16:10 68:6 74:11,16 77:21 77:22 78:4 developed 16:11,17 22:11 35:14 74:22 74:24 123:18,20 130:5,12,18 131:4,7 developer 10:24 11:6,6 14:4,5,12 16:15 20:24,25 22:8 22:9 23:12,12,16 24:7,18,22 25:19 33:20 34:10,13,18 35:8,19 58:17 64:9 212-267-6868
64:24 65:2,7,9,10 65:12,17 68:15 74:20 77:15,17,18 78:12 82:6 89:9,12 92:8,12,15 93:8,9 93:11 100:13,16,19 101:14,21,21,23 114:15,16,18 116:3 117:19 123:19 124:7,14,25 125:5 127:19 128:13 129:16,22 130:3 131:8,9 developers 64:11 developing 36:17 92:24 93:4 development 7:23 8:4 10:10 24:2,8 25:18 34:23 35:13 36:19 38:4,15 40:23 43:5 67:12,21,22 68:3 69:2,16 91:3 123:4,12,24,24 124:22 126:3,10,12 128:21 developments 13:22 13:25 27:16 123:15 123:18 difference 79:9,11 129:15 different 9:3 16:11 25:11 33:21,22 34:7 34:8 36:4 40:6 87:19 89:16 differentiated 137:19 difficulties 103:11 direct 4:25 52:4 56:10 61:22 96:16 120:7,8 directly 39:20 154:19 disagree 96:23 126:19 143:25 144:3 147:19
disagreed 149:17 disagreement 139:5 disapproval 76:24 discussion 122:8 142:5 dispute 91:20 distinction 24:11 79:19 137:4 distinguish 5:13 distributions 90:21 district 1:2,2 30:25 divided 90:15 document 4:9,14 7:9 7:15 33:21 37:8 45:15 48:14,19 50:20 55:10 60:25 61:8,19 68:22 71:9 75:7 76:12 128:3,10 129:2,3,4,7 153:10 documents 5:4 28:25 29:9,13 33:9 33:14,17 34:2 35:15 35:23 36:8,13 37:3 40:16,17 55:25 56:2 63:7 67:10 72:2,14 72:24 124:4,6,8,13 125:5,7 127:14 128:22 143:20 doing 13:22,24 23:8 34:19 40:12 55:17 85:13 142:12 144:12 dollars 53:7 don 40:8 41:11,19 51:20,21 71:23 76:2 donald 1:15 2:17 5:7,11,22 75:10 123:4,25 124:23,24 133:21 155:4 doubt 71:10 draft 111:10 dried 103:10 104:6 104:9 duly 4:3 154:9
VERITEXT REPORTING COMPANY www.veritext.com
e e 2:2,2 3:2,2 97:13 98:10,18 119:25 120:4,5 140:19,22 141:3,8,13 145:4 146:6 153:4,8,15,19 eager 22:16 earlier 47:22 68:13 70:18 71:12 79:20 102:17 103:25 108:18 117:22 129:14 134:22 earliest 73:16 early 150:16 easier 6:15 54:25 economic 113:12 effect 98:22 eight 70:11 eighteen 96:21,25 eighty 94:11,12 108:12 either 31:19 32:4,12 39:20 elder 141:25 elements 53:25 112:17 elevators 118:13 119:14 elizabeth 2:6,7 6:14 45:17 98:8 else's 39:25 94:23 embarrasses 30:19 31:5 embarrassing 134:25 emphasize 151:20 employ 154:21 employees 87:21 ended 68:11 139:2 150:16 english 115:4 entail 78:12 entails 32:24
516-608-2400
Case 1:09-cv-21406-KMW Document 230-1 Entered on FLSD Docket 06/04/2012 Page 162 of 175 Page 7
[enter - form] enter 8:20 38:9 47:7 47:12 67:19,21 86:9 entered 11:25 13:3,5 13:8,10 46:23,25 47:20,23 52:16 61:19 62:5,16 63:2 69:6 90:12 enters 39:21 entire 54:23 entities 8:21 10:12 16:12,16 39:21 41:8 61:17 63:10 entitled 4:9 84:24 85:21 107:25 153:10 entitlement 138:24 entity 29:4 61:20 71:4 88:24 92:16,24 93:4,4,9,11 equal 42:3 56:24 eric 40:8 errata 155:2 esq 2:6,7,14,20,21 3:7 essentially 59:18 estate 5:18,22,25 6:4 6:10 96:19 104:2 estimated 96:20 estoppel 57:23 58:6 58:16,18,21 59:2,13 60:7,13,22 62:25 63:3,18 101:24 102:5,10 estoppels 63:13 et 1:4,7 27:8 42:19 58:14,14 59:20,20 eugene 8:5,11,14 everybody 102:2 105:23 116:21,23 125:25 127:14 128:3,11,11,12 everything's 60:8 evidence 7:13 exactly 52:24
212-267-6868
examination 4:6 examined 4:5 153:5 example 72:6,10 123:3 examples 28:12,14 excellent 115:14 exchange 98:11 exchanged 146:6 excuse 67:20 98:3 executive 18:21 exercise 25:8 exhibit 4:8,11 5:2 7:20 18:6 19:7 37:7 45:6 47:10 48:8,11 50:8,18 52:5,6 53:14 56:11,17 57:22 60:23 61:23 65:25 66:23 69:14 70:4,8,19 71:24 72:9 74:9 75:4,6 76:10 77:8 78:21 81:3 82:10 86:20 89:25 91:15,23 94:9 95:17,20 97:12,12 97:15,20,25 98:4,19 109:3,9 110:22 119:24 120:3 123:3 127:2 153:10,13,15 153:17,19 exhibits 28:22 33:5 35:5 51:6 73:18 93:14,16,22 94:15 121:15 122:4 125:17 129:13 exists 103:7,18 exited 65:20 expect 136:13 expectation 53:6 expenses 57:3 expires 155:24 explains 129:5 extent 136:20 extremely 143:19
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VERITEXT REPORTING COMPANY www.veritext.com
financed 50:9 financial 103:11 financing 42:22 104:6,8,9 find 22:21 107:21 fine 22:24 23:24,25 108:25 141:23 finest 127:17 finish 22:14 132:15 132:24 finished 44:18 84:17 84:18,23 85:4,11,12 85:14,18 134:17 firm 139:11,19,21 140:23 143:3,11 146:7,8 first 4:3 14:2 31:8 49:6,8 53:16 54:14 56:13 70:20 98:18 115:4,12 118:15 119:11,15 120:4 135:24 151:5,8 fit 83:3 five 74:2 104:13 132:20 141:2 flagler 2:4,18 flat 17:10 floor 75:12 florida 1:2 2:5,13,18 52:24 53:3 62:6,9 62:19 108:8 144:15 flowed 43:17 follow 137:14 follows 4:5 food 72:11 foot 52:18 53:8 96:14 97:6 force 24:5 forced 108:15 form 5:24 8:8,23 10:16 11:4 12:6 13:20 15:2,16 16:4 16:24 17:8 18:4,13 18:16,19,24 19:18 20:8,14,20 21:15,19 516-608-2400
Case 1:09-cv-21406-KMW Document 230-1 Entered on FLSD Docket 06/04/2012 Page 163 of 175 Page 8
[form - happening] 23:17,19 24:15,21 25:5,14 26:20 27:2 28:3,7,17,18 29:12 29:20 30:2 31:10 33:11 34:4,16,23,24 36:2,10,15,22 37:11 38:8 39:7,12 41:5 41:17 42:7,11,14 43:8 44:5,16 46:10 46:13 47:25 48:6,21 49:2,14 50:3,12 51:13 52:3,14,22 53:11 54:3,16 55:15 56:19 57:10,17 58:2 58:9 59:7,17,25 60:17 61:3,7,13 62:12,21 63:12,23 64:6,14,20 65:22 66:10,18 67:24 68:17 69:12 70:24 71:7,20 72:17 74:14 75:14 77:4,20 78:7 78:15 79:25 80:4 81:15,23 82:21 83:10,20 84:2,11 85:24 86:5,15 88:3 89:6,19 90:18 91:9 92:22 93:7,17,19 95:6,8,13,15 99:5 100:12 101:6,9,19 102:7,15,23,25 103:13 105:16 106:13 107:17 110:5,18 111:17,22 112:24 113:19,21 113:25 114:10,12 114:25 115:10,24 116:13 117:7,17 118:7,23,25 120:17 120:22 121:24 122:20 123:2 124:18 125:3,22 126:2,8,21 127:12 127:25 128:6,24 129:10,21 130:9,17 212-267-6868
131:2 132:2,7 141:11 fort 10:4,12 11:10 12:9,10,20 14:2 19:2 29:3 39:5 41:2 44:12 50:25 52:19 66:5 68:9,15 71:2 74:11 81:8 88:16 94:5,19 97:7 105:19 111:7 forth 142:13 147:16 forty 56:24 forward 60:9 135:16 found 67:8 four 13:16 25:25 33:4 35:5 43:23 74:2 97:21 frankel 1:18 frankly 82:6 123:8 friday 135:19 136:22 138:4 front 39:14 fully 128:12 fund 100:22 103:5 funded 121:2,3 funding 98:25 100:2 102:19 103:10 furnished 118:11,17 119:6 furnishing 83:3 119:21 furnishings 119:13 furniture 27:8 119:3 further 154:16 g g 3:7 garten 3:7 6:14,20 7:6 23:6 45:17 55:18,22,24 98:8 132:12 149:9,13,20 150:13 general 22:6 64:22 64:22 77:14
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VERITEXT REPORTING COMPANY www.veritext.com
83:12 84:15,16 99:24,24,24,25 101:17 108:19 110:21 111:5 116:5 121:9,14 125:12 126:3 128:15 132:13,20 136:4 137:22 138:3,16 140:20 141:16,19 147:10 151:10 good 15:4 115:7 116:23 119:22 gotten 54:9 108:5 graduated 6:2 great 7:6 41:18 72:4 111:24 115:7 128:20 129:4 greater 53:7 gross 17:12,14,15 ground 30:17 grounds 144:6 group 2:11 10:20 11:2 14:25 20:24 35:7 65:7 76:2 85:7 guess 35:7 53:23 61:8 72:10 74:19 87:10 120:9 130:20 guys 145:14,22 h h 2:7 18:10 153:8 half 42:3 43:6 135:17 hammered 40:15 hand 37:23,24 154:23 handing 63:19 handled 41:20,22 happen 8:25 9:25 10:7 16:7 86:13,16 110:16 130:7 happened 10:3,5 77:5 83:15 127:18 happening 84:13 85:9 516-608-2400
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[happens - j] happens 110:13 124:15 happy 60:8,8 harass 138:12 harasses 31:4 harassing 138:12 harassment 45:9 hard 37:4 40:25 42:4,16 43:6 65:11 hardworking 67:9 he'll 137:15 head 73:13 heading 120:10 headquarters 149:6 heard 77:23 99:25 100:22 121:3 hearsay 100:3 heavily 59:9 101:22 held 1:17 122:8 154:7 hereunder 42:2 hereunto 154:22 herman 2:20,21 133:16,20 herman2 2:21 high 27:3,9,12 74:7 96:13 117:2 120:23 higher 96:24 97:2 hire 78:5,8 hired 87:12 hock 1:20 154:4 hold 4:15 84:24 85:21 home 108:11 123:6 honest 112:21 honorable 112:5,12 hopefully 117:20 hoping 123:9 hostile 142:22 hotel 1:7 2:10 13:12 16:8,8,22 17:3,16 17:20 25:16 26:13 27:8,10 35:4 39:4 41:10 49:20 53:20 53:22 57:14,16 62:4 212-267-6868
62:5,15,17 63:20,25 64:8,16 66:5,7,14 73:13 80:2,5,24 81:9 86:23 87:8,12 87:14 88:19 89:14 90:14,20,23 91:6 92:7,10,11,14,18,25 94:7 100:9 106:15 106:24 110:3,16,23 111:24 113:10,14 114:6 116:3,4,6,16 116:17 117:20,21 118:11,15 119:4,7 121:4,6 123:25 127:15 129:17 136:5,8 137:7 155:3 hotels 61:9 63:5 88:14 119:8 hour 134:10 135:17 144:22 145:3,11 146:15 151:10 152:4 hours 139:8 143:18 152:6 house 149:10 hoyle 119:13 hrussomanno 2:20 huh 71:15 81:11 humiliates 31:4 hundred 13:16 61:24 70:10,11,12 94:10,11,16 119:12 i idea 50:5 62:22 109:23 identification 4:12 95:21 97:15,25 120:3 identify 125:10 ii 38:4 40:24 43:5 iii 2:21 70:10 98:6 133:19,20 138:2 139:7 141:23 145:13,17,22
147:15,23 148:20 150:3 152:8 immediately 82:8 important 73:6 109:19 improper 31:23 147:7 incentive 53:13 including 54:4 103:19 income 56:25 57:13 increase 76:8 indicated 31:13 133:16 134:2,21 135:18 136:3 indicating 140:19 142:22 indications 148:18 indirectly 154:19 individual 4:22 63:4 63:9 individually 61:20 136:10 137:17 information 7:14 22:23 initially 134:2 input 72:22 73:3,4 inquiry 133:24 instances 131:23 132:4,8 137:3 insulting 142:9 intend 144:7,8 intended 98:22 138:12 intent 144:10 intention 136:14 137:10 152:3 interactions 102:11 interest 116:5,9 interested 101:16 116:2,20 154:19 interface 14:17 international 39:4 41:9 63:5 88:14 127:15
VERITEXT REPORTING COMPANY www.veritext.com
intimidates 31:4 introduce 121:14 introduced 28:21 67:6 70:18 invades 31:5 involved 10:11,12 13:18,23 25:17 26:5 59:9 73:10 74:23 75:2 84:19 involvement 10:25 11:5 34:14 35:2 58:13,20 89:11 122:22 125:19,23 issue 56:5 76:24 138:20 141:10 142:4 150:5,10,20 150:21 151:3,4,11 issued 33:15 issues 117:11 ivanka 40:8 95:3 j j 1:15 2:20,21 4:2 5:1 6:1 7:1 8:1 9:1 10:1 11:1 12:1 13:1 14:1 15:1 16:1 17:1 18:1 19:1 20:1 21:1 22:1 23:1 24:1 25:1 26:1 27:1 28:1 29:1 30:1 31:1 32:1 33:1 34:1 35:1 36:1 37:1 38:1 39:1 40:1 41:1 42:1 43:1 44:1 45:1 46:1 47:1 48:1 49:1 50:1 51:1 52:1 53:1 54:1 55:1 56:1 57:1 58:1 59:1 60:1 61:1 62:1 63:1 64:1 65:1 66:1 67:1 68:1 69:1 70:1 71:1 72:1 73:1 74:1 75:1 76:1 77:1 78:1 79:1 80:1 81:1 82:1 83:1 84:1 85:1 86:1 87:1 88:1 89:1 90:1 91:1 92:1 93:1 516-608-2400
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[j - licensed] 94:1 95:1 96:1 97:1 98:1 99:1 100:1 101:1 102:1 103:1 104:1 105:1 106:1 107:1 108:1 109:1 110:1 111:1 112:1 113:1 114:1 115:1 116:1 117:1 118:1 119:1 120:1 121:1 122:1 123:1,4 124:1 124:23,24 125:1 126:1 127:1 128:1 129:1 130:1 131:1 132:1 133:1 134:1 135:1 136:1 137:1 138:1 139:1 140:1 141:1 142:1 143:1 144:1 145:1 146:1 147:1 148:1 149:1 150:1 151:1 152:1 153:6 155:4 jared 2:7,8 135:22 jim 72:18 73:9 job 13:7,9 67:5 68:6 68:7,9,20 77:22 78:4,11 87:6 100:15 ed 149:11 t 8:4,20 judge 31:20 32:5,13 148:16 julius 14:19,20,21 14:22,24 15:5 138:2 june 69:18 97:24 153:18 junior 5:15 41:12,20 51:20,22 75:10 76:2 justified 100:7 k keep 132:13 137:11 kessler 8:6,12,15,15 kidding 21:20,22 kind 6:13 31:14 58:12 59:5 142:24 212-267-6868
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VERITEXT REPORTING COMPANY www.veritext.com
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[licensee - money] licensee 56:25 88:12 licensee's 56:24 57:5 licenses 50:25 licensing 11:8,25 12:4,13,18 13:11 14:4 15:24,25 35:2 35:3 38:12,14,16,24 39:15,21 50:23 129:25 licensor 21:2 63:21 124:2 129:17,24 lien 109:6 life 15:9 22:12 limit 30:16 limited 11:5 line 143:12 155:5 list 28:5 listed 56:16 little 5:16 9:23 44:17 44:24 105:20 108:6 128:8 live 80:11 lived 99:13 living 80:15 llc 1:4,7 2:10,11,17 7:24 8:4 10:20 11:2 37:15 38:4 40:24 43:5 62:7,10,19 63:6,25 64:8,16 65:7 67:21 80:24 81:9,9 86:23 88:14 92:14,19 94:5,19 100:9 113:11 123:25 155:2 lllp 50:25 llp 1:18 2:9 loan 120:12,15 local 30:25 located 11:15 location 73:5 96:11 139:14,16,23 logo 131:10 long 13:21 33:13,15 33:18 34:5 35:13 36:3 37:5 43:13 212-267-6868
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VERITEXT REPORTING COMPANY www.veritext.com
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VERITEXT REPORTING COMPANY www.veritext.com
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41:8 43:18 44:13 72:13,19 82:11 87:17,22 89:2,4 102:12 114:20 116:8 133:22 140:17 144:13 organization's 25:24 29:10 100:10 original 121:10 originally 65:16 106:11 139:13 outside 138:13 overall 73:4 overstate 122:22 125:19 owned 14:11 88:10 88:25 89:3 owner 17:24 89:11 90:15 91:2,7 owners 85:25 86:6 86:19 ownership 14:14 owns 14:10 92:11 p p 2:2,2 3:2,2 4:2 p.a. 2:16 p.m. 122:9,11 133:10,12 152:13 page 19:8 37:19 39:18 40:20 43:22 43:23 47:18 52:6 53:12,13 56:13 70:20 77:7 96:17 110:23 113:9 153:5 153:9 155:5 pages 97:22 paid 17:6 39:4,10,13 41:9 43:5,24 44:3 44:25 45:2 49:6,7 51:10 52:11 54:9 59:19,22 61:11 66:13 87:14 104:14 paper 107:21
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VERITEXT REPORTING COMPANY www.veritext.com
perspective 142:8 petrus 72:18 73:9,12 73:22,23,24 74:6 76:3 87:13 90:25 122:2 phoenix 12:22,23 13:4 phrase 91:10 picture 34:8 picture's 36:4 pictures 29:24 31:15 126:2 piece 107:21 128:9 place 106:19,20 110:3 124:14 134:16 150:6 154:8 placed 69:17 98:21 99:7 109:6 places 108:8 plaintiff 134:5 140:2 plaintiff's 4:11 5:2 7:19 18:5 19:6 47:10 50:8 56:11,16 61:23 70:19 76:10 77:7 81:2 89:25 95:20 97:14,19,24 98:19 109:2,9 110:22 120:2 127:2 135:2 150:14 153:9 plaintiffs 1:5,16 2:4 134:2,8,24 135:16 135:23 140:3 plan 76:6,6 plans 75:12 103:4 player 50:15 please 22:14 81:3 98:20 115:18 pleasure 128:20 plummeted 106:7 point 35:6 47:4 73:16 85:9 129:19 140:6 142:22 143:15,22 points 151:2
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VERITEXT REPORTING COMPANY www.veritext.com
114:12 115:18 118:7 120:17 122:20 123:2 124:18 125:22 126:8 127:25 129:21 130:9 131:2 131:13 132:2,7 137:18 145:16 questioning 31:3 135:3 questions 22:18,20 22:22 23:8 32:13,23 44:23 45:8,12 55:22 136:14 137:16 quick 98:7 128:8 quite 14:13 15:7 32:17 74:2 85:15 103:19 138:16 142:9 149:7 quote 19:6,15 20:12 quotes 19:10 r r 2:2 3:2 4:2 ran 6:11 read 29:21 41:23 44:20 54:23,24 96:2 115:17,20 126:23 128:11 reading 56:20 ready 50:19 78:23 95:25 98:2 116:16 118:12 real 5:18,21,25 6:4 6:10 96:19 98:7 104:2 really 13:21 14:11 15:18 19:13 61:14 91:13 114:13 116:2 reason 30:6 31:18 81:17 82:18 98:23 149:12,15 151:5,6 155:5 reasons 100:4
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[receive - russomanno] receive 41:25 received 54:9 56:25 recess 133:23 recollect 46:15 71:14 80:9 recollection 77:25 reconsider 144:24 reconvened 135:7 record 22:16 30:10 45:13 121:15 122:6 122:8 133:8,13,18 133:20 134:21 135:13 142:7 143:20 144:21 145:25 146:15 147:3,5,13,24 148:2 148:9,11,19,21 150:2,12 154:14 records 12:20 recovery 144:11 redacted 109:20 reduced 71:18 74:8 reference 27:17 47:5 147:24 148:2 referenced 27:15 47:22 104:2 references 69:24 117:10 referencing 19:20 20:5 70:20 102:20 referring 99:6 122:23 147:14,18 reflect 133:13,20 142:7 143:21 146:16 147:5 150:12 reflected 149:25 refusal 149:21 regard 146:8,9 regarding 99:19 regular 32:10 rejected 150:14 151:7,13 related 32:15 154:17 212-267-6868
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VERITEXT REPORTING COMPANY www.veritext.com
rooms 16:22 17:17 17:18,21 22:3 53:20 53:22,23 57:14,16 119:4,7 roy 2:11 33:19 64:2 65:9,18 66:25 67:3 79:23 91:18 92:7 98:11 rule 30:12 31:2 134:22 rules 32:10 138:14 138:25 146:4,24 ruling 31:20 run 35:3 running 119:4,11 128:14 russomanno 2:16,20 2:21 5:23 8:7,22 10:15 11:3 12:5 13:19 15:15 16:3,23 17:7 18:3,12,16,19 18:24 19:17 20:7,13 20:19 21:14,19 23:18 24:14,20 25:4 25:13 26:19 27:2,21 28:2,6,18 29:11,19 29:25 30:5 31:24 32:8,9 33:10 34:3 34:16 35:25 36:9,15 36:22 37:10 38:7 39:6,11 40:4 41:4 41:16 42:6,10,14 43:7 44:4,15 46:9 46:12 48:5,20,25 49:13 50:2,11 51:12 52:2,13,21 53:10 54:2,15 55:14,20 56:4,18 57:9,17,25 58:8 59:6,16,24 60:16 61:2,6,12 62:11,20 63:11,22 64:13,19 65:21 66:9 66:17 67:23 68:16 69:11 70:10,23 71:6 71:19 72:16 74:13 516-608-2400
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VERITEXT REPORTING COMPANY www.veritext.com
showed 122:13 showing 82:9 shows 69:7 shutts 2:9 shutts.com 2:15 side 40:18 sign 37:22,24 48:13 49:24 50:16 58:6,19 58:21 59:2,10 61:5 63:7,10,18 signature 27:25 28:5 37:17,21 45:23 46:19 48:7 55:11,12 56:3,8 123:4,12,14 123:18,23 124:22 126:9 127:7 152:14 signatures 48:9 signed 46:11 47:17 48:2 50:8 58:11 59:14 60:14 63:2,3 95:3 101:25 121:8 124:13 125:4,25 126:14 127:14 128:3,11,22 129:4,8 g 46:3,15 59:21 71:8 signs 58:16,18 102:2 similar 27:11 simple 47:11 99:12 124:20 simplistic 131:12 simply 151:15 sir 27:13 29:14 33:2 53:17 54:6 70:14 94:4 sit 41:24 107:20 111:18 138:18 site 65:9,13 77:16 89:10,13 92:24 93:5 123:10 125:6 sitting 29:17 33:8 152:3 situated 139:24 situation 83:24 108:20 516-608-2400
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VERITEXT REPORTING COMPANY www.veritext.com
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[takes - trump] takes 45:7 talk 5:6,16 9:23 14:18 92:6 talked 5:17 8:14 23:10 71:12 talking 5:8 12:8 14:8 15:17 16:13 47:9 49:20 61:8 79:16 85:4 88:7,8 88:13,15,16,18 92:10 131:3,6 148:14 talks 9:18 82:15 99:7 112:15,16 team 50:15 technicalities 54:19 54:22 tell 26:23 31:19 35:10 44:7 45:8 55:6 104:16 111:5 148:16 telling 137:15 ten 132:21 tenant 11:11,13,17 11:20,22 terminate 30:16 31:7 49:16 terminated 69:20 134:20 135:4 146:3 146:23 148:17 terminating 138:23 143:17 152:5 40:5,14 51:23 66:14 68:18 75:17 75:17 107:12 119:10 145:25 146:17 territory 148:9 testified 4:5 104:18 testify 43:16 55:11 testimony 24:16 36:10 44:10 82:17 124:21 125:11,18 143:19 144:5 154:6 154:10,11,15 212-267-6868
tevfik 14:8 15:9 text 122:12,16 125:17 126:16,17 texts 125:12 thank 22:25 33:2 45:19,20 115:11 135:11,20,21 thereto 57:4 thing 74:17 81:25 146:17,25 things 27:11 55:3 60:9,11 73:6 75:18 77:21 80:7 82:22,24 82:25 118:14 119:22 think 10:9,17 12:7 12:20 17:11,12,14 17:15,19,22 19:7 20:21 22:18,19 31:22 33:13 35:10 35:17,23 36:3,7,16 36:20 39:13 41:11 41:19 50:13 52:25 64:2,21 66:16,20 68:23 72:3 81:24,24 82:3,4,22,24 88:22 90:19 96:24 97:2,9 98:23 100:18 102:8 104:20,21 111:23 112:17 113:7 120:18 123:7 124:20 128:25 129:11 131:22 136:7,25 137:18 138:18 139:2 144:16,19 145:18 147:8 148:24 150:19 151:3 thinking 34:17,19 35:18 36:16 68:19 thirty 37:19 39:18 40:20 43:15,23 thought 97:5 thousand 53:7
three 39:18 40:10,20 70:16 thursday 136:18 time 11:14,18 13:21 14:6 18:17 20:12 30:14 33:13 34:15 35:6,9,11 37:5 45:7 45:11 52:17 55:13 67:6,8 73:17 76:16 84:7 103:19,19 107:6 113:18 117:25 136:3 137:9 137:20,23 138:17 141:20 142:15 143:15 146:9 147:21 149:7 150:7 150:20,23 152:10 152:13 154:8 timely 84:17 87:7 103:3 times 5:19 15:21 18:14 25:25 89:8,24 101:11 timing 10:8 tmp 47:18 55:4,5,7 55:11 56:2 109:17 today 7:4 29:17 33:8 41:24 95:5,10,12 101:11 111:18 132:11 134:15 145:21 146:8 150:6 151:20,24 152:4 today's 140:8,18 told 22:8 25:25 44:8 45:3 63:13 89:7 92:23 114:15 132:9 tom 98:11,14 tomorrow 136:8,18 137:6 138:6 152:11 topics 137:8 topped 26:12 torpedo 98:21 99:8 tower 39:5 41:10 96:22 127:15
VERITEXT REPORTING COMPANY www.veritext.com
transcribed 154:12 transcript 138:15 154:14 travel 15:11 treatment 141:15 tremendous 105:21 106:2 107:3 108:16 trilogy 1:4 155:3 trouble 49:4 troubled 103:17 true 7:15 8:3 20:10 87:23 93:16,21,24 94:17,20,21 95:4,5 95:12 97:10 113:17 123:15 154:14 trump 1:15 2:17,17 3:5 4:13 5:1,4,7,11 5:22 6:1,8 7:1,10,18 8:1,5,19 9:1,7,18 10:1,13 11:1,20 12:1,10 13:1 14:1 14:16,23 15:1 16:1 16:6,7,21 17:1,3,21 18:1,6,23 19:1,7,9 20:1,24,25 21:1,2,3 21:9 22:1,15 23:1,2 24:1,16 25:1,12,23 25:24 26:1,4,5,7,18 26:24,24 27:1,16,19 28:1,15 29:1,3,5,10 30:1 31:1 32:1,16 33:1,5 34:1 35:1,6 36:1 37:1,22 38:1,3 39:1,2,4,19 40:1,2,8 40:8,9,23 41:1,7,9 41:11,20 42:1 43:1 43:4,17 44:1,10,13 45:1,15,22 46:1 47:1 48:1,7,13 49:1 50:1 51:1 52:1,15 52:19 53:1 54:1 55:1,2 56:1,22 57:1 57:23 58:1 59:1 60:1 61:1,16,18 62:1,6,9,18,24 63:1 516-608-2400
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[trump - windows] 63:5 64:1 65:1 66:1 66:4 67:1,11,20 68:1 69:1 70:1 71:1 71:2,12,13,16,17 72:1,6,10,18,23 73:1,10,14,17 74:1 74:4,10 75:1,10,21 75:25 76:1,2 77:1 78:1 79:1 80:1 81:1 81:8 82:1,15,19 83:1 84:1,24 85:1 85:17,20,22 86:1 87:1 88:1,13,25 89:1,4 90:1 91:1 92:1,4 93:1 94:1,5 94:19 95:1,3,3 96:1 96:5 97:1,5 98:1 99:1 100:1 101:1 102:1 103:1 104:1 104:15,18 105:1,6 106:1,6 107:1 108:1 109:1,22,25 110:1,8 111:1,5 112:1,20 113:1 114:1 115:1,5 116:1,8 117:1 118:1 119:1 120:1,4,7 121:1 122:1,12 123:1,5,25 124:1,23 124:24 125:1 126:1 126:24 127:1,15 128:1 129:1,15 130:1,4,5 131:1,10 131:24 132:1,9 133:1,14,21,21 134:1 135:1 136:1 137:1 138:1,20 139:1 140:1,5,16 141:1 142:1,6,8,20 143:1,13 144:1,12 144:13 145:1 146:1 146:20 147:1,4,17 148:1,3 149:1,5,13 150:1,7,18,18 151:1 152:1,2 153:6 155:4
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trump's 96:20 139:14 143:25 149:10 151:19 trumps 98:20 trying 116:22 tuesday 140:14 turn 39:18 138:8 turned 100:8 twenty 78:19 104:13 two 5:4 28:11,14 51:4,5 61:24,25 70:8,12,17 137:4 139:8 143:18,23 152:6 typically 96:12 148:11 u u 4:2 uh 71:15 81:11 ultimate 14:24 35:13 ultimately 13:7 34:21 65:17 69:4 unavailable 138:5 uncalled 30:8 uncharted 113:12 underpins 64:18 understand 5:10 7:8 15:22 22:10 31:8,12 31:21 32:6 42:12 44:20,23 45:5 47:16 92:13 98:20 127:21 131:8 136:13 137:21 149:9 understanding 25:10,15 50:7 52:17 53:19 57:7 64:7,10 65:14 90:14 110:2 117:3,14,18 141:4 understands 128:12 understood 14:11 99:10 141:19 unfairly 31:3
unfortunately 10:18 106:18,24 116:6,17 118:16 120:24 127:19 128:16 unhappy 87:5 uniformly 105:9 unit 17:23 90:16,16 112:9,10,19 116:24 116:25,25 117:5 united 1:2 105:11 108:10 units 13:14,16 16:21 52:18 104:12,12,22 105:25 107:13 108:16 112:2 113:16 114:2 universe 26:15 unjustified 143:16 unnecessarily 30:19 unrecognizable 33:23 unrelated 32:18 unsuccessfully 130:12 use 16:10 17:25 usually 58:11,22 78:8 147:23 v v 155:3 vaguely 90:8 value 96:6,12 105:14 107:19 108:7 112:18 114:3 valued 106:10 values 106:6,19 108:11 112:10 113:2,8 various 42:22 61:10 vendor 59:8 vendors 58:25 59:5 venture 8:4 ventures 8:20 veritext 155:2
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versus 24:12 25:11 61:20 129:17 view 129:19 viewpoint 143:13 virtually 50:17 vis 78:12,12 w wait 94:10 wall 22:2 want 22:15 24:10 32:23 44:25 45:14 45:18 49:4,6,8,15 52:4 62:24 70:13 73:4,5,6,6 78:19 84:18 96:16 125:9 142:4,7 146:18 149:24 150:4,9,11 150:25 wanted 65:16 74:16 106:14 117:20 130:21 140:24 148:3 wants 58:11 59:11 59:12 60:7 75:16,19 waste 150:20 watching 115:25 116:15,22 water 123:10 way 49:5,10 50:17 92:6 131:7 139:12 wayne 1:19 154:4 we've 15:4 139:17 142:19 week 134:13 139:17 140:11 142:20 weeks 143:23 weisselberg 43:12 went 106:19 108:11 139:11 west 2:4,18 28:11 whereof 154:22 willing 144:25 windows 27:5,6
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[wish - younger] wish 54:23 104:21 witness 33:3 56:9 95:24 98:2 132:14 132:22 133:6 152:14 153:5 154:9 154:15,22 155:4,20 word 61:18 91:5 words 56:2 108:14 work 14:13 20:18 87:18 88:19 91:4 130:19 134:3 worked 18:20 19:25 65:11 working 91:2 118:13 world 105:12 worse 83:24 worth 104:12,22 106:3 112:2 126:13 write 114:19 writing 71:18 73:18 74:5,8 77:8 written 94:2,7,8 109:13 wrong 68:24 94:15 wrote 19:23 114:19 117:13 x x 153:4,8 y yeah 39:14 40:11 42:25 56:12 75:22 76:11 82:13 86:6,17 91:10 97:9 99:17 103:2 105:8 127:5 years 15:18 43:15 74:3 yesterday 55:23 149:3 151:14,23 york 1:19,19,21 3:6 3:6 4:4 28:10 96:19 143:23 154:5 155:2 younger 149:12
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Page 1 1 2
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF FLORIDA
3
_________________________________________
4
TRILOGY PARTNERS LLC, et al.,
5
Plaintiffs,
6 7
-againstSB HOTEL ASSOCIATES LLC, et al.,
8 9
Defendants. Case No. 09-21406-CIV _________________________________________
10 11
November 16, 2011 10:31 a.m.
12 13 14 15
DEPOSITION of DONALD J. TRUMP,
16
taken by Plaintiffs, pursuant to Notice,
17
held at the offices of KRAMER LEVIN
18
NAFTALIS & FRANKEL LLP, 1177 Avenue of the
19
Americas, New York, New York before Wayne
20
Hock, a Notary Public of the State of New
21
York.
22 23 24 25
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Page 2 1 2 3 4 5
A P P E A R A N C E S: BECK & LEE Attorneys for Plaintiffs 66 West Flagler Street Miami, Florida 33130 (305) 789-0072
6 BY: 7 8 9 10 11 12 13
ELIZABETH BECK, ESQ. [email protected]
SHUTTS & BOWEN LLP Attorneys for Defendants SB HOTEL ASSOCIATES LLC ROY STILLMAN BAYROCK GROUP, LLC 1500 Miami Center 201 South Biscayne Boulevard Miami, Florida 33131 (305) 358-6300
14 BY: 15 16 17 18 19 20 21
STEPHEN B. GILLMAN, ESQ. [email protected]
RUSSOMANNO & BORRELLO, P.A. Attorneys for DONALD TRUMP THE TRUMP ORGANIZATION LLC 150 West Flagler Street Miami, Florida 33130 (305) 373-2101 BY: HERMAN J. RUSSOMANNO, ESQ. [email protected]
22 23 24 25
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Page 3 1 2 A P P E A R A N C E S: (Continued) 3 4 5
THE TRUMP ORGANIZATION 725 Fifth Avenue
6 7
New York, New York 10022 BY:
ALAN G. GARTEN, ESQ.
8 9
*
*
*
10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25
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Page 4 1 2
D O N A L D
J.
T R U M P, having
3
been first duly sworn by a Notary Public
4
of the State of New York, upon being
5
examined, testified as follows:
6
EXAMINATION BY
7
MS. BECK:
8
MS. BECK: Exhibit 323.
9
(Whereupon, a document entitled
10
Re-Notice of Taking Deposition
11
was marked Plaintiff's Exhibit 323
12
for identification.)
13
Q.
14 15 16 17 18
document before? A. just see. Q.
I don't know.
Hold on, let me
Not that I know.
No.
Well, this is your deposition
notice.
19 20
Mr. Trump, have you seen this
Are you here pursuant to this re-notice of deposition?
21
A.
Yes, I am.
22
Q.
Are you here in your individual
23
capacity?
24
A.
Yes.
25
Q.
I'm going to direct you to
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D. J. Trump Plaintiff's Exhibit 143 and 142.
3 4
If you can take a look at these two documents, Mr. Trump.
5
A.
Okay.
6
Q.
These newspaper articles talk
7
Yes.
about Mr. Donald Trump.
8
Are they talking about you?
9
A.
Yes.
10
Q.
I understand your son is also
11
named Donald Trump?
12
A.
Yes.
13
Q.
How do we distinguish between
14
you and your son?
15
A.
He's junior.
16
Q.
Can we talk a little bit about
17
your background.
18
about your real estate background multiple
19
times in numerous depositions.
20
to do it for this one.
21 22
I'm sure you've talked
I'd like
When did you start in real estate, Mr. Donald Trump?
23
MR. RUSSOMANNO: I object to the
24
form of the question.
25
A.
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D. J. Trump
2
graduated from college in nineteen -- in
3
the 1970s.
4
Q.
5
Did you start real estate with
your father?
6
A.
Yes.
7
Q.
What company was that?
8
A.
The Trump Organization.
9
Q.
And what did you do when you
10
started real estate with your father?
11
A.
12
buildings.
13
Q.
I built buildings and I ran
What kind of buildings?
14
MR. GARTEN: Elizabeth, would it
15
be easier if we just stipulate to his
16
background?
17
bio.
18 19
We can provide you with a
MS. BECK: I haven't seen his bio.
20
MR. GARTEN: I can provide you
21
with a bio.
22
give you his complete bio.
23 24
We can stipulate -- I can
MS. BECK: I can't stipulate to something I haven't seen.
25
Why didn't you give this to me
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Page 7 1
D. J. Trump
2
in advance?
3
If you would like, you can give
4
it to me sometime today and I can get
5
to his background at the end.
6
MR. GARTEN: Great.
7
whole bio there.
8
Q.
9 10
He has his
I understand your attorney will
be giving me some document that contains your biography, Mr. Trump --
11
A.
That's correct.
12
Q.
-- later on.
13
Once I it that into evidence,
14
do you stipulate that all information
15
contained in that document is true?
16
A.
Yes.
17
Q.
Okay.
18
Mr. Trump, did you see this
19
newspaper article, Plaintiff's
20
Exhibit 142, before?
21
A.
No.
22
Q.
Okay.
23 24 25
What is Seabreeze Development, LLC? A.
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D. J. Trump Q.
So you wouldn't be able to say
3
whether it's true that Seabreeze
4
Development, LLC is a t venture
5
between The Trump Organization and Eugene
6
and Stuart Kessler?
7
MR. RUSSOMANNO: Objection to
8
form.
9
A.
10 11 12
know.
No, I don't know.
I just don't
You'd have to ask my lawyers.
Q.
Who are Eugene and Stuart
Kessler?
13
A.
I don't know.
14
Q.
You never talked to Eugene
15 16
Kessler or Stuart Kessler? A.
I don't know.
I don't know
17
their names.
18
just don't know their names.
19
Q.
It could be that I did but I
Does The Trump Organization
20
enter into t ventures with other legal
21
entities?
22
MR. RUSSOMANNO: I object to the
23
form of the question.
24
A.
Sometimes.
25
Q.
And how does that happen; who
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Page 9 1 2 3
D. J. Trump makes the decision? A.
Different people in my
4
organization make that decision or I'd
5
make that decision.
6 7
Q.
When you say your organization,
do you mean The Trump Organization?
8
A.
Yes.
9
Q.
If other people in your
10
organization makes that decision, do they
11
do it with your approval and/or sanction?
12
A.
Generally, yes.
13
Q.
Okay.
14 15 16 17
When would that not be the case? A.
that's not the case. Q.
18 19
I don't know of any case where
Okay. This article talks about Trump
Las Olas.
20
A.
Right.
21
Q.
Does that sound familiar to you?
22
A.
Yes.
23
Q.
Can you talk a little bit about
24
that project.
25
Did that project happen?
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Page 10 1 2
D. J. Trump A.
I don't believe that project
3
happened.
4
small project in the Fort Lauderdale area
5
that I don't believe happened.
6
Q.
7 8 9 10 11
That was a project that -- a
Okay. Why didn't it happen?
A.
The timing of the project.
I
think the market crashed prior to development. Q.
And the people involved and the
12
entities involved with Fort Lauderdale
13
Trump Las Olas did not anticipate the
14
crash?
15
MR. RUSSOMANNO: I object to the
16
form.
17
A.
I don't think anybody
18
anticipates crashes, unfortunately.
19
they didn't anticipate the crash.
20 21
Q.
No,
Bayrock Group, LLC, does that
sound familiar to you?
22
A.
Yes.
23
Q.
Who are they?
24
A.
They're a developer.
25
Q.
What is your involvement with
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D. J. Trump Bayrock Group, LLC?
3
MR. RUSSOMANNO: I object to the
4
form.
5
A.
Limited involvement.
They are a
6
developer, fairly large scale developer,
7
and sometimes they will come to us for
8
like a licensing deal or something on a
9
building that they would develop.
10
was the case in Fort Lauderdale.
11
Q.
12
yours?
13
A.
14 15 16 17 18 19
22 23 24 25
Were they also a tenant of
They were a tenant for a period
of time in one of my buildings. Q.
Is that the building located at
725 Fifth Avenue? A.
Yes.
They were a tenant for a
period of time at 725 Fifth Avenue. Q.
20 21
That
Okay. They were a tenant of The Trump
Organization? A.
Yes.
of the building. Q.
Well, they were a tenant Yes.
You mentioned that your
organization entered into a licensing deal
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Page 12 1 2
D. J. Trump with Bayrock?
3
A.
Yes.
4
Q.
What licensing deal was that?
5
MR. RUSSOMANNO: I object to the
6
form.
7
A.
Well, I think it was a building
8
that we're talking about, the building in
9
Fort Lauderdale.
10
Q.
Trump Fort Lauderdale?
11
A.
Yes.
12
Q.
Any others?
13
A.
Yes, we did a licensing deal in
14
SoHo.
15
Q.
Okay.
16
A.
Which is a beautiful building,
17
completed, very nice building.
18
licensing deal -- we may have done another
19
one.
20
records.
21
Lauderdale.
I'm not sure.
We did a
I'd have to check my
I think SoHo and Fort
22
Q.
Phoenix?
23
A.
We looked at Phoenix but the
24
market crashed before the deal ever got
25
built.
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D. J. Trump Q.
Okay.
3 4 5
But a contract was entered into for Phoenix? A.
I don't know if it was entered
6
into.
7
and then ultimately we didn't do the job.
8
So it may have been entered but we never
9
built the job.
10
I know the market was getting bad
Q.
You mentioned that you entered
11
into a licensing -- well, SoHo, that's a
12
condo hotel in Manhattan?
13
A.
Yes.
14
Q.
How many units does SoHo have?
15
A.
I'd say probably it has around
16 17 18
four hundred units. Q.
How did your organization get
involved with Bayrock?
19
MR. RUSSOMANNO: I object to the
20
form.
21
A.
They really called a long time
22
ago about doing some developments
23
together.
24
companies.
25
some developments together and I believe
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D. J. Trump
2
this was the first one, the one in Fort
3
Lauderdale, and we made a deal to do some
4
licensing.
5
they were going to be the developer at the
6
time, but we made a deal to do a license.
7
Q.
They were the developer or
When you say they, are you
8
talking about Mr. Tevfik Arif I believe
9
his name is?
10
A.
I don't know who owns Bayrock.
11
I've never really understood who owned
12
Bayrock.
13
that's done quite a bit of work, but I
14
don't know how they have their ownership
15
broken down.
16
Q.
I know they're a developer
Who at Bayrock did The Trump
17
Organization interface with; who did they
18
talk to?
19 20
A.
I would say it would be Julius
or -- mostly Julius.
21
Q.
Mr. Julius Schwarz?
22
A.
Yes, mostly Julius.
23
Q.
Is your belief, Mr. Trump, that
24
it's Julius Schwarz who's the ultimate
25
decision-maker of Bayrock Group?
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D. J. Trump
2 3
MR. GILLMAN: Objection to form. A.
He's certainly one of them.
I
4
mean, we've had a very good relationship
5
with Julius.
6
big decision-makers, yes, and he has been
7
for quite a while.
8 9
Q.
He's certainly one of their
Did you ever speak with Mr.
Tevfik Arif in your life?
10
A.
Yes, I did.
11
Q.
Did you ever travel with him?
12
A.
No.
13
Q.
Did you ever speak with Mr. Arif
14
prior to speaking with Mr. Schwarz?
15
MR. RUSSOMANNO: I object to
16
form.
17
A.
I don't know.
18
about many years.
19
it's possible.
20
well, Mr. Arif.
21
times.
22
Q.
23 24 25
You're talking
I really don't know but
I don't know him very I've met him a couple of
I understand. You mentioned that SoHo was a
licensing deal? A.
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D. J. Trump Q.
3
What does that mean? MR. RUSSOMANNO: I object to the
4
form of the question.
5
A.
We license the building, we
6
license the name Trump -- it's called
7
Trump SoHo -- and we also happen to manage
8
the building.
9
condominium.
It's a hotel.
It's a hotel
We manage the building and
10
they use our name.
11
building.
12
entities.
We didn't develop the
It was developed by different
13
Q.
Are you talking about Bayrock?
14
A.
Bayrock I believe was the
15 16 17 18 19 20
primary developer, yes. Q.
developed it along with Bayrock? A.
Yes, Sapir, the Sapir
Organization. Q.
21 22
And other entities also
Oh, yes. Are there any units at Trump
SoHo that are not hotel rooms?
23
MR. RUSSOMANNO: I object to the
24
form.
25
A.
212-267-6868
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D. J. Trump Q.
Does your organization currently
manage the Trump SoHo Hotel?
4
A.
Yes.
5
Q.
How does your organization get
6
paid?
7
MR. RUSSOMANNO: I object to the
8
form of the question.
9
A.
We get a management fee.
10
Q.
Is that a flat annual fee?
11
A.
I don't think so.
It's based on
12
-- I think it's based on gross revenues.
13
I'm not sure.
14
think it's based on gross revenues.
I could check it but I
15
Q.
I think gross revenues of?
16
A.
Of the hotel.
17
Q.
Rooms?
18
A.
Rooms.
19 20 21
But I'd have to check.
But I think so. Q.
Do you manage all the hotel
rooms in Trump SoHo?
22
A.
Pretty much, I think.
23
Q.
There's no room that a unit
24
owner rents out on their own and doesn't
25
use your company to manage?
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D. J. Trump A.
3
Not that I know of. MR. RUSSOMANNO: I object to the
4
form of the question.
5
Q.
6
If you look at Plaintiff's
Exhibit 143, Mr. Trump.
7
A.
Yes.
8
Q.
There's a -- have you ever
9 10 11
spoken with a gentleman by the name of Felix H. Sater or Satter? A.
12
Yes. MR. RUSSOMANNO: I object to the
13
form of the question.
14
Q.
15
On how many times did you speak
with him?
16
MR. RUSSOMANNO: Form.
17
A.
For a period of time.
18
Q.
Why did you speak with him?
19 20 21 22 23
MR. RUSSOMANNO: Form. A.
He was
an executive with Bayrock. Q.
Did you speak with him in
connection with Trump SoHo?
24 25
He worked for Bayrock.
MR. RUSSOMANNO: Form objection. A.
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D. J. Trump
2 3
Q.
What about the Fort Lauderdale
project?
4
A.
Probably.
5
Q.
Okay.
6
There's a quote in Plaintiff's
7
Exhibit 143, Mr. Trump -- I think it's on
8
the second page -- it says here, "Mr.
9
Trump also said he was surprised to learn
10
of Mr. Sater's past" and it quotes you as
11
saying, "we never knew that.
12
much of a background check as we can on
13
the principals.
14
very well."
15 16
We do as
I didn't really know him
Is that an accurate quote from you?
17
MR. RUSSOMANNO: Objection to the
18
form.
19
A.
Yes.
20
Q.
What were you referencing there?
21
A.
I don't know.
I don't know him
22
from the past.
23
of his past.
24
him.
25
only knew him as a person that worked for
212-267-6868
I would have no knowledge They wrote a story about
I didn't know him from the past.
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I
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D. J. Trump Bayrock. Q.
So the statements about Mr.
4
Sater in this article, that is what you
5
are referencing when you say we never knew
6
that?
7
MR. RUSSOMANNO: I object to the
8
form.
9
A.
I don't know if the statements
10
are true or not, but I didn't know
11
anything about his background.
12
Q.
13
At the time you made the quote? MR. RUSSOMANNO: Objection to
14
form.
15
A.
Yes, that's right.
16
Q.
Okay.
17 18
After this article came out, did you continue to work with Mr. Sater?
19
MR. RUSSOMANNO: I object to the
20
form.
21
A.
22 23
I think he left Bayrock sometime
fairly soon after the article came out. Q.
You mentioned that Bayrock was a
24
developer of Trump SoHo.
25
is a developer of the Trump SoHo.
212-267-6868
The Sapir Group
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D. J. Trump
2
Trump Organization is a licensor of the
3
Trump SoHo; is that correct?
4
A.
Correct, and the management
5
company, the company that manages the
6
building after it's built.
7
build the building and we didn't sell the
8
building.
9
building Trump SoHo or selling it.
We didn't
We weren't responsibile for We
10
were only responsible for managing it
11
after it was built, and that's what we do.
12 13
Q. building?
14
MR. RUSSOMANNO: I object to the
15
form.
16
A.
17 18
How do you define building a
Constructing the building,
construction. Q.
19
How do you define that? MR. RUSSOMANNO: Form.
20
A.
You must be kidding; right?
21
Q.
No.
22
A.
Are you kidding with that
23
question?
24
Q.
No.
25
A.
Building the building, putting
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D. J. Trump
2
the concrete up, putting the curtain wall
3
on, building the rooms, completing --
4 5 6
Q.
Aren't they done by
subcontractors? A.
That's done by general
7
contractors and subcontractors and the
8
developer.
9
developer.
10
Q.
11 12
As I told you, I'm not the
I understand that. You have developed projects
before in your life?
13
A.
Yes, I have.
14
Q.
Please let me finish my
15
question, Mr. Trump.
16
record.
17
here but so am I.
18
A.
I know you're eager to get out of
I think they're stupid questions
19
you're asking me.
20
very stupid questions.
21
Q.
We want a clear
I think you're asking
Well, I'm sorry that you find my
22
questions stupid, but I'd like to get
23
information about this case.
24
A.
Fine.
25
Q.
Thank you.
212-267-6868
Go ahead.
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D. J. Trump
2 3
Do you need a break, Mr. Trump? A.
No.
4 5
Do you need a break? Q.
No, I don't.
6
MR. GARTEN: You can go.
7
A.
8
doing?
9
Q.
Do you even know what you're Let's go.
Ask the questions.
Building the building, you
10
mentioned that -- you talked about
11
concrete; right, building bricks?
12
developer, would you consider a developer
13
a person who manages the contractor?
Now, a
14
A.
Yes.
15
Q.
If a person only manages the
16
contractor, is that person a developer?
17
MR. GILLMAN: I object to form.
18
MR. RUSSOMANNO: I object to
19
form.
20
A.
21
Yes. MR. GILLMAN: Do we have the same
22
stipulation that an objection of one
23
is for all?
24
MR. BECK: That's fine.
25
MS. BECK: That's fine.
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Page 24 1 2 3 4
D. J. Trump A.
It's part of the development
process. Q.
And what about selling?
What
5
about if a person manages a sales force
6
that does the selling, are they a
7
developer?
8
A.
9 10
It's a part of the development
process. Q.
I just want to make a
11
distinction between actually laying down
12
concrete versus managing a company that
13
lays down the concrete.
14
MR. RUSSOMANNO: I object to the
15
form.
16
Q.
Is it your testimony, Mr. Trump,
17
that you have to actually lay down the
18
concrete to be a developer?
19
MR. GILLMAN: Objection.
20
MR. RUSSOMANNO: I object to the
21
form.
22
A.
23 24 25
To be a developer, you have to
build the building. Q.
Or manage other people that
build the building?
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D. J. Trump
2
A.
Correct.
3
Q.
How do you define manage?
4
MR. RUSSOMANNO: I object to the
5
form.
6
A.
7
You would supervise the
construction of the building.
8
Q.
Exercise control?
9
A.
Yes.
10
Q.
What was your understanding of
11
the different roles of Bayrock versus
12
Sapir in connection with Trump SoHo?
13
MR. RUSSOMANNO: I object to the
14
form.
15
A.
I had no understanding.
We were
16
managing the hotel and we licensed the
17
name.
18
development.
19
the developer along with Sapir or
20
separately from Sapir.
21
them that question.
22
Q.
23 24 25
We weren't involved with the I believe that Bayrock was
You'd have to ask
Okay. What was The Trump
Organization's role in Trump SoHo? A.
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D. J. Trump
2
We managed the building and we licensed
3
the name.
4
Q.
So the role of The Trump
5
Organization and Trump SoHo involved --
6
let me get this straight, you gave
7
permission for the Trump name to be used?
8
A.
I licensed the name.
9
Q.
Under a license agreement?
10
A.
Correct.
11
Q.
And then after the building was
12
up and topped off, you then came in and
13
managed the hotel; is that correct?
14
A.
That is correct.
15
Q.
Is that the universe of
16
responsibilities which you and your
17
organization had in connection with the
18
Trump SoHo?
19
MR. RUSSOMANNO: I object to the
20
form.
21
A.
Pretty much.
22
Q.
Okay.
23
What can you tell us about the
24
Trump standards?
25
standards?
212-267-6868
What are the Trump
Do they mean anything? VERITEXT REPORTING COMPANY www.veritext.com
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D. J. Trump
2 3
MR. RUSSOMANNO: Form. A.
We have a high standard.
We
4
have a standard as to kitchen qualities,
5
we have a standard as to windows and
6
quality of windows, quality of
7
construction, quality of sound.
8
hotel, quality of the furniture, et
9
cetera.
If it's a
We have a standard that's a high
10
standard in accordance with other hotel
11
companies that do similar kinds of things
12
that are high quality.
13
Q.
14
Yes, sir. There's -- I believe you
15
referenced some properties.
16
Trump developments in the past which you
17
reference in I believe the license
18
agreement but I'm not too sure as setting
19
the standard for meeting the Trump
20
standards.
21
I believe the
MR. RUSSOMANNO: Objection.
22
A.
It's possible.
23
Q.
I just don't what those
24
properties were, but I believe one was in
25
Chicago.
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D. J. Trump
2
MR. RUSSOMANNO: I object to the
3
form.
4
Q.
5
signature properties?
6
Can you list them?
MR. RUSSOMANNO: Objection to
7
form.
8
A.
9
Could you describe some of those
I don't know what this has to do
with our lawsuit, but I certainly will
10
give you a couple.
11
Central Park West would be the two primary
12
examples.
13
Q.
Chicago, New York on
If a building meets the standard
14
of luxury set by the two examples you
15
gave, would that be meeting the Trump
16
standards?
17
MR. GILLMAN: Objection to form.
18
MR. RUSSOMANNO: Form.
19
A.
Generally speaking, yes.
20
Q.
I'm going to now -- well,
21
they've already been introduced but
22
Exhibits 124, 128, 129, and 130.
23
A.
Go ahead.
24
Q.
Have you seen any of these
25
documents before?
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D. J. Trump
2
A.
I don't believe so.
3
Q.
For the Trump Fort Lauderdale
4
project, which is the entity that licensed
5
your name from The Trump Organization?
6 7
A.
You'd have to ask
my lawyers.
8
Q.
9 10
I don't know.
Okay. Were these documents created
with The Trump Organization's approval?
11
MR. RUSSOMANNO: I object to the
12
form.
13
A.
These documents?
14
Q.
Yes, sir.
15
A.
I don't know, you'd have to ask
16
my lawyers.
17 18
Q.
I just don't know.
Well, sitting here today, do you
approve of them?
19
MR. RUSSOMANNO: I object to the
20
form.
21
A.
Would you like me to read them
Q.
Yes.
22 23 24
all? They have a lot of
pictures.
25
MR. RUSSOMANNO: I object to
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D. J. Trump form.
3 4
Strike the last comment. MS. BECK: Motion denied.
A.
5
They look like very -MR. RUSSOMANNO: Counsel, there's
6
no reason for you to act as the court
7
about motion being denied.
8
uncalled for.
It's
9
And so let me just put on the
10
record now because again, I haven't
11
been with you at a deposition.
12
Pursuant to Rule of Civil
13
Procedure 30(d)(3)(a), it provides
14
that any time during a deposition the
15
deponent or a party may move to
16
terminate or limit the deposition on
17
the ground that it's being conducted
18
in bad faith or in a matter that
19
unnecessarily annoys, embarrasses, or
20
oppresses the deponent or the party.
21
If the objecting deponent or party so
22
demands, the deposition must be
23
suspended to obtain an order.
24
then finally, as far as for the
25
Southern District local
212-267-6868
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D. J. Trump
2
Rule 30.1(a)(5), the paragraph also
3
provides that if questioning unfairly
4
humiliates, intimidates, harasses, or
5
embarrasses the deponent or invades
6
his privacy absent a clear statement
7
otherwise, we can also terminate.
8 9
So first, I didn't understand any comments to be made that it isn't
10
in the form of a question.
11
going to do it to you.
12
understand that.
13
indicated he hadn't seen them.
14
asked him to look at.
15
enough to do it and then with pictures
16
and comments and again with motion
17
being denied, I just don't know what
18
the reason of that is.
19
just tell me why either of us -- you
20
would be ruling it as a judge.
21
don't understand it, counsel.
22 23
So I don't
The deponent also You
He was kind
If you can
I just
MS. BECK: I think you moved to strike which is improper.
24 25
I'm not
MR. RUSSOMANNO: And you said motion was denied.
212-267-6868
Look, we can
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D. J. Trump
2
suspend it.
3
I haven't been in the room with you.
4
We're not going to either of us act as
5
the judge.
6 7
All I'm saying to you is
MS. BECK: I understand.
I note
your comments.
8
Can we move on, Mr. Russomanno?
9
MR. RUSSOMANNO: If we're going
10
to go by the regular rules of
11
depositions and we won't make comments
12
and we won't act as if either of us
13
are the judge.
14
are, in fairness, counsel, to you, if
15
they're related to the lawsuit,
16
certainly that's why Mr. Trump is
17
here.
18
bit unrelated to the lawsuit and it
19
doesn't need to be peppered with
20
comments about whether this is proper
21
or not.
22
And if the questions
But there seems to be quite a
We're here to proceed, but we
23
want to cover the questions that the
24
lawsuit entails based upon your second
25
amended complaint.
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D. J. Trump
2
MS. BECK: Yes, sir.
3
THE WITNESS: Let's go.
4 5
Q.
Have you looked at these four
exhibits before you now, Mr. Trump?
6
A.
Yes.
7
Q.
Okay.
8 9
Thank you.
Sitting here today, do you approve of these documents?
10
MR. RUSSOMANNO: I object to the
11
form.
12
A.
I don't know.
I didn't see them
13
at the time.
14
the building was built.
15
were issued long before the actual
16
building was built.
17
documents that have nothing to do with
18
your lawsuit that were long before Mr.
19
Stillman came in, Roy Stillman came in as
20
the developer.
21
different not only document, it's a very
22
much different building.
23
building is almost unrecognizable from
24
what was built.
25
Q.
212-267-6868
I think this was long before These documents
These are old
This was a very much
In fact, the
Do you know from when these VERITEXT REPORTING COMPANY www.veritext.com
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D. J. Trump documents were made?
3
MR. RUSSOMANNO: I object the
4
form.
5
A.
I just know it was long before
6
the building was built.
It has nothing to
7
do with it.
8
it's a different picture from the building
9
that was built, and it was before Mr.
It's a different building,
10
Stillman came in as the developer of the
11
project.
12
Q.
Before Mr. Stillman came in as
13
the developer of the project, what was
14
your involvement with the project at that
15
time?
16
MR. RUSSOMANNO: Form.
17
A.
We were thinking of being the
18
developer, but it was very preliminary.
19
We were thinking about doing it in
20
conjunction with Bayrock, but that was
21
very preliminary.
22
it.
23
and the development to, in some form --
24
you'd have to ask them what that form
25
was -- to Mr. Stillman and our only
Ultimately we didn't do
Bayrock decided to sell the project
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D. J. Trump
2
involvement was licensing.
We were
3
licensing and we were going to run the
4
hotel.
5
Q.
So for the four exhibits before
6
you, at this point in time The Trump
7
Organization and Bayrock Group I guess
8
were considering being a developer of this
9
project at that time?
10
A.
I think so.
You'd have to tell
11
me what the time was because I don't see
12
any date on these papers.
13
long before the ultimate development was
14
developed.
15
Q.
16 17
But this was
Do you know why these documents
may have been prepared? A.
Because I think Bayrock was
18
thinking about building this building
19
before a developer came along and
20
purchased the project.
21
Q.
22
Yes. And do you know for whom -- you
23
think these documents were prepared by
24
Bayrock?
25
MR. RUSSOMANNO: I object to the
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D. J. Trump
2
form.
3
A.
4 5 6
Q.
So you think that Bayrock prepared these documents? MR. RUSSOMANNO: Objection to the
10
form.
11
A.
13 14
That's not his testimony. I don't know who prepared them.
It's possible that Bayrock did it. Q.
Do you know why these documents
were prepared, who the audience is?
15 16
These are obviously artistic
renditions.
9
12
Again, it's so long
ago that the picture's even different.
7 8
I think so.
MR. RUSSOMANNO: Form. A.
I think they were thinking about
17
developing the project and then when Mr.
18
Stillman came along, he took over all of
19
the development.
20 21
Q.
Do you think these were prepared
for lenders --
22
MR. RUSSOMANNO: Object to form.
23
Q.
-- or construction finance?
24
A.
I don't know, you'd have to ask
25
Bayrock.
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D. J. Trump
2
Q.
Did you ever see PowerPoints
3
such as the documents before you, not in
4
hard copy but as PowerPoint presentations?
5 6 7
A.
I'm not sure.
Q.
Exhibit 133.
ago.
8 9
You've seen this document before; yes?
10 11
It's a long time
MR. RUSSOMANNO: I object to the form of the question.
12
Take a look at it.
13
A.
Yes.
14
Q.
This is the operating agreement
15
of Stillman Bayrock Merrimac, LLC; yes?
16
A.
Yes.
17
Q.
And that is your signature?
18
A.
Yes.
19
Q.
On page thirty-six?
20
A.
Yes.
21
Q.
When I see your signature, Mr.
22
Trump, do you personally sign that with
23
your hand or is that sometimes a stamp?
24
A.
I sign it with my hand.
25
Q.
Always?
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D. J. Trump
2
A.
Yes.
3
Q.
What is Trump Lauderdale
4 5 6
Development II, LLC? A. that --
7
MR. RUSSOMANNO: Objection to
8
form.
9
A.
10
I believe that's the company
-- we used to enter into the
agreement with Mr. Stillman and Bayrock --
11
Q.
And the Motwanis?
12
A.
-- for the licensing.
13
I'm not sure what they are.
14
the licensing of this particular
15
development.
16 17
Q.
For
This is not the licensing
agreement though; is it?
18
A.
I don't know if it is or not.
19
Q.
Could you take a look and --
20
A.
I don't know.
21
Q.
Okay.
22
A.
You'd have to ask my lawyers.
23
don't know.
24
licensing agreement but maybe it's
25
something else.
212-267-6868
I
I assumed it was the
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D. J. Trump Q.
Mr. Trump, how was you or any
3
organization that you control going to get
4
paid on the Trump International Hotel and
5
Tower project in Fort Lauderdale?
6
MR. RUSSOMANNO: I object to the
7
form.
8
A.
9 10
You'd have to ask my
ants. Q.
11
Did you get paid? MR. RUSSOMANNO: I object to the
12
form.
13
A.
I don't know.
I think they paid
14
us something, yeah, up front for the
15
licensing.
16
number is.
17
Q.
18
But I'm not sure what the
I'm going to ask you if you can
turn to page thirty-three.
19
When The Trump Organization,
20
either directly or through any of its
21
entities, enters into a licensing deal for
22
the project, presumably it negotiates fees
23
for --
24
A.
Yes.
25
Q.
-- somebody else's privilege of
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D. J. Trump using the Trump license; is that correct?
3
A.
4
Correct. MR. RUSSOMANNO: Objection.
5
Q.
Who negotiates those ?
6
A.
Different people.
7
Q.
Such as?
8
A.
Ivanka Trump, Don Trump, Eric
9
Trump.
10
Q.
Your three children?
11
A.
Yeah.
Sometimes myself.
It
12
depends on who's doing the deal or what
13
the deal is.
14
Q.
And once those are
15
hammered out, your attorneys take over and
16
create the documents?
17
A.
Well, documents are created
18
sometimes by the other side, sometimes by
19
us.
20 21
Q.
On page thirty-three it says
fees.
22
A.
Right.
23
Q.
Did Trump Lauderdale Development
24
II, LLC, were they supposed to get a
25
percentage of all the hard and soft costs
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D. J. Trump
2
associated with construction of the Fort
3
Lauderdale project?
4
MR. RUSSOMANNO: I object to the
5
form.
6
A.
I don't know.
7
Q.
Who negotiated how The Trump
8
Organization and its legal entities would
9
get paid under the Trump International
10 11 12 13
Hotel and Tower project? A.
I think it was Don Trump,
Junior, my son. Q.
You don't have any knowledge as
14
to how much money is going to come in from
15
that project?
16
MR. RUSSOMANNO: I object to the
17
form.
18
A.
Not a great deal.
I mean, I
19
think that my son -- I believe my son, Don
20
Trump, Junior, handled it.
21
schedule of payment.
22
handled by my son.
23
Q.
There's a
But I believe it was
Does it surprise you to read
24
this, as you sit here today, that the
25
class B member shall receive compensation
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D. J. Trump
2
for its services hereunder in an amount
3
equal to one and a half percent of all
4
hard and soft costs of construction of the
5
project?
6
MR. RUSSOMANNO: I object to the
7
form of the question.
8
A.
No.
9
Q.
What does that mean?
10
MR. RUSSOMANNO: I object to the
11
form.
12
Q.
13
What do you understand that to
mean?
14
MR. RUSSOMANNO: Form.
15
A.
Just what it says.
16
Q.
So if -- well, what are hard
17
costs?
18
A.
It's the construction costs, the
19
concrete and the brick and mortar, et
20
cetera.
21
Q.
What are soft costs?
22
A.
The financing costs and various
23
other costs.
24
Q.
Advertising?
25
A.
Yeah.
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D. J. Trump
2
Q.
Legal fees?
3
A.
That would be a soft cost.
4
Q.
Was the Trump Lauderdale
5
Development II, LLC paid this one and a
6
half percent of the hard and soft costs?
7
MR. RUSSOMANNO: I object to the
8
form of the question.
9
A.
10
I don't know.
You'd have to ask
my ant.
11
Q.
Who is your ant?
12
A.
Allen Weisselberg.
13
Q.
Do you know how long he's been
14
with your company?
15
A.
Yes, over thirty years.
16
Q.
And he would be able to testify
17
as to what moneys flowed into the Trump
18
Organization and its s --
19
A.
Yes.
20
Q.
-- for this project?
21
A.
Yes.
22
Q.
If you go to the next page,
23
which is page thirty-four, it says, "an
24
amount of $960,000 shall be paid to the
25
class B member."
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D. J. Trump
2 3
Do you know if this amount was paid?
4
MR. RUSSOMANNO: I object to the
5
form.
6
A.
I don't know.
Didn't I already
7
tell you you'd have to ask my ant?
8
I just told you you'd have to ask my
9
ant.
10
Q.
Mr. Trump, is it your testimony
11
that you personally don't know if any
12
money was made from the Fort Lauderdale
13
deal by The Trump Organization and/or its
14
s?
15
MR. RUSSOMANNO: Objection to
16
form.
17
A.
Relatively very little money.
18
And certainly after everything is finished
19
probably no money.
20 21 22 23 24 25
Q.
I understand.
I read the
agreements. A.
What are you asking me the
questions for if you understand? Q.
You said very little money but I
want to know what was paid and what was
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D. J. Trump not paid. A.
ant. Q.
6 7
I told you you'd have to ask my
I understand that. Exhibit 243.
A.
Go ahead.
It takes a long time
8
between questions, I'll tell you that.
9
Obviously it's harassment.
10
MS. BECK: Court reporter, if you
11
would like, you can note the time in
12
between questions.
13
with putting that in the record.
14
Q.
15 16
You might want to take a look at
that document, Mr. Trump. A.
17 18
It's very long.
I've done it. MR. GARTEN: Elizabeth, do you
want this copy?
19
MS. BECK: Thank you so much.
20
Thank you.
21
Q.
22 23
I have no problems
Okay. Mr. Trump, is that your
signature on --
24
A.
Yes.
25
Q.
-- 1533?
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D. J. Trump
2
A.
Yes.
3
Q.
Do you g this
4
letter?
5
A.
No.
6
Q.
Do you know what the letter is?
7
A.
It's a letter to Corus Bank.
8
Q.
Okay.
9
MR. RUSSOMANNO: I object to the
10
form.
11
Q.
12
Do you know why you signed it? MR. RUSSOMANNO: I object to the
13
form.
14
A.
I don't, I don't.
15
Q.
You don't recollect g it?
16
A.
No.
17 18 19 20 21
I believe was this before Stillman? Q.
everywhere. A.
22 23
No, I see his signature
I'm not asking that question. I'm saying was this letter sent
before Stillman entered the partnership?
24
Q.
What partnership?
25
A.
Before Stillman entered a
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D. J. Trump
2
partnership with -- a partnership or
3
whatever their relationship with respect
4
to Bayrock.
5
in reference.
I'm just asking for a point
6
Q.
It's dated December 15, 2006.
7
A.
And when did Stillman enter an
8 9 10 11
agreement with Bayrock? Q.
Are you talking about
Plaintiff's Exhibit 133? A.
No, I'm just asking that simple
12
question, when did Stillman enter their
13
agreement with Bayrock?
14
Q.
I don't know.
15
A.
Okay.
16
Q.
But I understand Mr. Stillman --
17
somebody signed it on behalf of him on
18
page TMP --
19 20 21
A.
That would mean that he had
already entered. Q.
-- 1535 and that would mean the
22
partnership you referenced earlier was
23
already entered?
24
A.
25
Correct. MR. GILLMAN: Objection to form.
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D. J. Trump Q.
You don't know why you signed
this? A.
5
No, I don't. MR. RUSSOMANNO: Objection to the
6
form.
7
Q.
Mr. Trump, your signature is on
8
more than one occasion in this exhibit.
9
Are they all your signatures?
10
A.
Yes, they are.
11
Q.
Exhibit 244.
12
A.
Okay.
13
Q.
Mr. Trump, did you sign this
14
I have it.
document?
15
A.
Yes.
16
Q.
What is it?
17
A.
It's a subordination agreement.
18
Q.
And what was the purpose of this
19
document?
20
MR. RUSSOMANNO: I object to the
21
form.
22
A.
23 24
To subordinate our management
contract to the bank. Q.
25
Why? MR. RUSSOMANNO: I object to the
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D. J. Trump
2
form.
3
A.
Because the -- in case of
4
trouble, the bank doesn't want to have a
5
management agreement get in their way.
6
Q.
They want to be paid first?
7
A.
I don't know about being paid
8
first.
9
having a management agreement in their
10 11 12
They don't want to be stymied by
way. Q.
Why would a management agreement
stymie the bank?
13
MR. RUSSOMANNO: Objection to
14
form.
15
A.
Because they may want to
16
terminate the agreement.
17
always ask for lots of rights, they'll
18
always ask for subordination.
19
Q.
A bank will
When you say management
20
agreement, you're talking about the hotel
21
management agreement?
22 23 24 25
A.
Yes, I believe so.
I believe
this relates mostly to that. Q.
If you did not sign this, would
the bank, Corus Bank, not give money?
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D. J. Trump
2
MR. RUSSOMANNO: Objection to
3
form.
4
A.
I don't know, you'd have to ask
5
Corus Bank.
6
very standard.
7
Q.
I have no idea.
But it's
Was it your understanding that
8
when you signed Plaintiff's Exhibit 244,
9
the project would not get financed unless
10
you did so?
11
MR. RUSSOMANNO: I object to
12
form.
13
A.
No, but I think it's very
14
standard language to have this.
We're a
15
team player.
16
to sign subordination agreements to banks.
17
In virtually all deals it's done that way.
It's very standard language
18
Q.
Exhibit 198, 199, and 200.
19
A.
Okay.
20
Q.
You've seen this document
21
I'm ready.
before; yes?
22
A.
Yes.
23
Q.
This is the licensing agreement
24
between yourself and Bayrock Merrimac,
25
LLLP that licenses your name to the Fort
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D. J. Trump Lauderdale project; is that correct?
3
A.
That is correct.
4
Q.
And then there's two amendments
5
to this agreement which are the other two
6
exhibits?
7
A.
Right.
8
Q.
Okay.
9
Do you negotiating how
10
you would get paid under this license
11
agreement?
12
MR. RUSSOMANNO: I object to the
13
form.
14
A.
No.
15
Q.
Did you negotiate the fees under
16
this agreement and the amendments?
17
A.
I didn't do it personally, no.
18
Q.
It was your son?
19
A.
Yes.
20
Q.
Don, Junior?
21
A.
I believe it was my son, Don,
22 23 24 25
Junior. Q.
Do you what the
were? A.
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D. J. Trump
2
MR. RUSSOMANNO: I object to the
3
form.
4
Q.
I want to direct your attention
5
to Exhibit B, which is the next to last
6
page of this exhibit, of this agreement.
7
A.
Okay.
8
Q.
It says, "license fee."
9
A.
Okay.
10
Q.
Is this how you were going to
11 12
get paid under this license fee? A.
13
Yes. MR. RUSSOMANNO: I object to the
14
form.
15
Q.
Mr. Trump, do you -- back when
16
you entered into this license agreement,
17
at that time did you have an understanding
18
of how much per square foot the units at
19
the Trump Fort Lauderdale project would
20
sell for?
21
MR. RUSSOMANNO: I object to the
22
form.
23
A.
No.
I don't that
24
exactly.
25
pricing, I think this was going to be a
212-267-6868
It was basically -- Florida
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D. J. Trump
2
better building than most of the buildings
3
in Florida, but I don't what that
4
number would have been.
5
Q.
Would it have -- do you
6
if you had an expectation of it being
7
greater than a thousand dollars per square
8
foot or you just don't at all?
9
A.
10
I don't at all. MR. RUSSOMANNO: I object to
11
form.
12
Q.
The next page says retail
13
component incentive, the last page of this
14
exhibit.
15
A.
16
Okay. Of the first part of it?
17
Q.
Yes, sir.
18
A.
Go ahead.
19
Q.
Is it your understanding that
20
the project has hotel rooms and retail?
21
A.
It had some retail, yes.
22
Q.
And other than hotel rooms and
23
retail, there's no other I guess rooms or
24
portions of the property other than that
25
and the common elements?
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D. J. Trump
2
MR. RUSSOMANNO: I object to
3
form.
4
A.
5
Well, I assume we're including
the restaurant in the retail?
6
Q.
Yes, sir.
7
A.
No, there would be nothing else.
8
Q.
And this is how you would have
9
gotten paid for the rents received for the
10
retail section of the property if they
11
were leased?
12
A.
Whatever the agreement says.
13
Q.
What was the purpose of the
14
first amendment to the license agreement?
15
MR. RUSSOMANNO: I object to the
16
form.
17
A.
18 19
(Reviewing). It sounds like legal
technicalities to me.
20
Q.
I'm sorry?
21
A.
It sounds like legal
22
technicalities to me.
23
have to read the entire agreement.
24
you asked my lawyer or just read it
25
yourself.
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I'd I wish
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D. J. Trump Q.
Mr. Trump, in order to move
3
things along, do you notice that this is
4
Bates stamped TMP on the bottom?
5
A.
TMP, yes.
6
Q.
I'm going to tell you that if
7
it's labeled TMP, it came from your
8
attorneys.
9
A.
Okay.
10
Q.
If any document Bates stamped
11
TMP has your signature, can you testify
12
that that is your signature so I don't
13
have to ask you every time?
14
MR. RUSSOMANNO: I object to
15
form.
16
A.
Yes.
17
Q.
Are you doing it?
18 19
I would love to do that.
MR. GARTEN: We'll stipulate to that.
20
MR. RUSSOMANNO: It's been
21
stipulated to and I believe there are
22
questions covered by Mr. Garten
23
yesterday --
24 25
MR. GARTEN: I've authenticated all these documents and said that any
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D. J. Trump
2
documents that has the words "TMP" is
3
authentically his signature.
4
MR. RUSSOMANNO: And if there is
5
an issue about something that needs to
6
be authenticated, you let me know.
7
We're not taking the position the
8
signature is not his.
9 10 11
THE WITNESS: Let's go. Q.
I'm going to direct your
attention to Plaintiff's Exhibit 200.
12
A.
Yeah.
13
Q.
On the bottom of the first page
14
it says, "license fee."
15
Is this an amendment to the
16
license fee as listed in Plaintiff's
17
Exhibit 198?
18
MR. RUSSOMANNO: I object to the
19
form.
20
A.
21 22
Well, without reading
everything, it looks like that, yes. Q.
Let me ask you this, Mr. Trump.
23
It says a fee, "the additional
24
fee equal to forty percent of licensee's
25
share of income received by licensee
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2
pursuant to the rental agreements after
3
payment of all operating expenses and
4
other costs relating thereto which are
5
licensee's responsibility pursuant to the
6
applicable rental agreement."
7 8
What is your understanding of what that fee is?
9
MR. RUSSOMANNO: I object to the
10
form.
11
A.
It sounds like something having
12
to do with some retail or some rental
13
income coming in.
14
Q.
What about the hotel rooms?
15
this fee associated with managing the
16
hotel rooms?
17 18 19
MR. RUSSOMANNO: Form. A.
I don't know, you'd have to ask
my attorneys.
I just don't know.
20
Q.
Or your son?
21
A.
Perhaps.
22
Q.
Exhibit 245.
23 24
Is
Mr. Trump, what are estoppel certificates?
25
MR. RUSSOMANNO: I object to the
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2
form.
3
A.
It's a certificate that
4
everything is basically okay as of the
5
date.
6 7
Q.
certificate?
8 9 10
Why did you sign this estoppel
MR. RUSSOMANNO: I object to the form. A.
It's something a lender needs
11
and wants signed from usually a management
12
company or anybody having any kind of
13
involvement with a project and that there
14
were no defaults, et cetera, et cetera.
15
Q.
16
Okay. Who generally signs estoppel
17
certificates?
18
signs an estoppel certificate; right?
19
A.
I assume the developer
A management company would sign.
20
People that have any involvement would
21
have to sign an estoppel certificate for a
22
lender.
23
for it.
24
Q.
25
Usually a lender would be asking
Okay. I presume though vendors would
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D. J. Trump
2
not be required to sign estoppel
3
certificates?
4
A.
In some cases they would be.
5
Q.
What kind of vendors?
6
MR. RUSSOMANNO: I object to the
7
form.
8
A.
9
I don't know.
If a vendor is
involved heavily in a project, they might
10
be asked to sign by a bank.
11
what the bank wants.
12
depends on what the bank wants.
13
Q.
It depends on
Corus is a bank.
And you said that estoppel
14
certificates are signed to say that
15
everything is okay?
16
MR. RUSSOMANNO: I object to the
17
form.
18
A.
Essentially that you're
19
satisfied and that you've been paid to
20
date, et cetera, et cetera.
21
Q.
But g this agreement
22
you're saying that you were paid as of
23
this date?
24 25
It
MR. RUSSOMANNO: I object to the form.
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D. J. Trump A.
3
Well, let's see. What's the date of this
4
agreement?
5
Q.
December 15, 2006.
6
A.
It would basically -- an
7
estoppel is the bank wants to know that
8
I'm happy, that everything's happy that
9
going forward things could change but that
10
as of that date you're satisfied with
11
things.
12
Q.
13
Okay. Does a bank require estoppel
14
certificates to be signed as a condition
15
of them giving money?
16
MR. RUSSOMANNO: I object to the
17
form.
18
A.
19
Not always but, generally
speaking, I would say yes.
20
Q.
Was it in this case?
21
A.
It sounds like it.
22
This is an
estoppel.
23
Q.
Exhibit 202.
24
A.
Okay.
25
Q.
What was this document before?
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D. J. Trump
2
MR. RUSSOMANNO: I object to the
3
form.
4
A.
It's a preopening agreement.
5
Q.
And why did you sign it?
6
MR. RUSSOMANNO: I object to the
7
form.
8
A.
9 10 11
I guess it's a document talking
about the opening of the hotels and the various responsibilities. Q.
Were you to get paid under this?
12
MR. RUSSOMANNO: I object to the
13
form.
14
A.
15 16
know. Q.
I don't know.
I really don't
You'd have to ask my attorneys. Mr. Trump, there's a lot of
17
legal entities in this case all with the
18
word "Trump" in it.
19 20
If a document is entered into by you individually versus a legal entity --
21 22
MS. BECK: Let me start over. Q.
I'm going to direct your
23
attention to Plaintiff's Exhibit 245, the
24
one right before you, and also two hundred
25
two which is the one right before you.
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D. J. Trump
2
A.
You're going backwards.
3
Q.
Both of them.
4
Now, the hotel preopening
5
agreement is entered into by SB Hotel
6
Associates and Trump Florida Management,
7
LLC.
8
A.
Right.
9
Q.
What is Trump Florida
10
Management, LLC?
11
MR. RUSSOMANNO: I object to
12
form.
13
A.
I believe that's the management
14
company that was going to manage the
15
hotel, which we were prepared to do.
16
Q.
If an agreement is entered into
17
by the hotel management company, would it
18
be between the other party and Trump
19
Florida Management, LLC?
20
MR. RUSSOMANNO: I object to the
21
form.
22
A.
23 24 25
I have no idea.
You'd have to
ask my lawyer. Q.
I want to ask you, Mr. Trump,
the estoppel certificates that were
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D. J. Trump
2
signed, you entered into them -- the
3
estoppel certificates were signed by you
4
in your individual capacity and also on
5
behalf of Trump International Hotels
6
Management, LLC.
7
Did you sign these documents
8
because the bank asked you in your
9
individual capacity and also under these
10
other entities to sign it?
11
MR. RUSSOMANNO: I object to the
12
form.
13
A.
As I told you, estoppels are
14
standard for a bank to get.
15
standard agreement that all banks require
16
prior to lending money, for the most part.
17
Q.
This is a
Is it your belief that the bank
18
asked to sign this estoppel certificate
19
prior to handing out the money because you
20
were the hotel management company or the
21
licensor, both or neither?
22
MR. RUSSOMANNO: I object to the
23
form.
24
A.
Perhaps both.
25
Q.
Who is SB Hotel Associates, LLC?
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D. J. Trump A.
I think that's Stillman, Roy
Stillman.
4
Q.
His company?
5
A.
His company, yes.
6 7
MR. GILLMAN: Objection to form. Q.
And is it your understanding
8
that SB Hotel Associates, LLC is the
9
developer of that project?
10
A.
That's my understanding, yes.
11
Q.
What other developers of that
12
project do you know of?
13
MR. RUSSOMANNO: I object to the
14
form.
15
A.
I don't know of any.
16
Q.
Just SB Hotel Associates, LLC?
17
A.
I believe that's correct.
18
Q.
And what underpins that belief?
19
MR. RUSSOMANNO: I object to the
20
form.
21
Q.
Why do you think that?
22
A.
General knowledge.
23
knowledge of the project.
24
that was the developer.
25
speak to my lawyers.
212-267-6868
General
I believe that You'd have to
But I believe that
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D. J. Trump was the developer of the project.
3
Q.
It's a legal --
4
A.
You'd have to ask that question
5 6 7 8 9
to my lawyers. Q.
What about Bayrock, Bayrock
Group, LLC, were they a developer? A.
I don't know if they were a
developer of this site or not.
I know Roy
10
Stillman's company was the developer and
11
they worked very hard.
12
whether or not Bayrock was the developer
13
of this site.
14 15 16
Q.
I don't know
What is your understanding of
their role in this project? A.
Well, they originally wanted to
17
be the developer but ultimately they sold
18
it to Roy Stillman.
19 20
Q.
exited out of the project?
21
MR. RUSSOMANNO: I object to the
22
form.
23
A.
24 25
Is it your belief that they
I don't know.
my lawyers. Q.
212-267-6868
You'd have to ask
I don't know.
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D. J. Trump
2
A.
Okay.
3
Q.
This is an agreement between
4
your company that was to manage the Trump
5
Fort Lauderdale hotel --
6
A.
Right.
7
Q.
-- and SB Hotel Associates; is
8
that right?
9
MR. RUSSOMANNO: I object to the
10
form.
11
A.
Yes.
12
Q.
Okay.
13
If your company was to get paid
14
for managing the hotel, those would
15
be in this agreement before you?
16
A.
17
I think so, yes. MR. RUSSOMANNO: I object to the
18
form.
19
Q.
Any other agreement?
20
A.
I don't know, but I think this
21
would be the agreement, unless it was
22
amended.
23
Q.
24 25
Exhibit 204 and 205. How far back do you go with Mr.
Roy Stillman?
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D. J. Trump
2
A.
With who?
3
Q.
Mr. Roy Stillman.
4
A.
I don't go back that far.
I met
5
him because of this job, so I go back to
6
the time where I was introduced to him
7
through Bayrock.
8
that time.
9
hardworking man.
10
Q.
11
Trump?
12
A.
13 14 15
And so it would be about
I found him to be a very
What are these documents, Mr.
This is the development and
services agreement. Q.
These were later cancelled and
superseded.
16
Do you ?
17
A.
No, I don't.
18
Q.
You don't.
19
Okay.
Do you know why you would enter
20
into -- excuse me, Trump Lauderdale
21
Development, LLC would enter into a
22
development and services agreement?
23
MR. RUSSOMANNO: I object to the
24
form.
25
A.
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D. J. Trump Q.
Do you know what the purpose is
of a development and services agreement?
4
A.
Yes.
5
Q.
What is it for?
6
A.
To develop and service a job.
7
Q.
What job is that?
8
A.
In this case, I would assume it
9
would be the job in Fort Lauderdale.
10
This was before Mr. Stillman, I
11
assume.
12
when he bought this project, I assume.
13
Q.
He ended up taking over this role
You spoke earlier that you and
14
Bayrock were contemplating becoming the
15
developer for the Fort Lauderdale project?
16
MR. RUSSOMANNO: I object to
17
form.
18
A.
I don't know in of
19
contemplating.
We were thinking about
20
building the job, but we never got there
21
because Mr. Stillman purchased it.
22
Q.
And this document --
23
A.
I think it preceded Mr.
24
Stillman.
25
speak to my lawyers.
212-267-6868
I may be wrong.
You'd have to
But this probably
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D. J. Trump
2
was probably a development and services
3
agreement as though we were going to build
4
it but we ultimately didn't do that or I
5
didn't do that certainly.
6
Q.
So you entered into this as part
7
of the paperwork that shows that you and
8
Bayrock were contemplating building the
9
building?
10
A.
11
Correct. MR. RUSSOMANNO: I object to the
12
form.
13
A.
Correct.
14
Q.
Exhibit 201.
15
A.
Okay.
16
Q.
Now, the development and
17
services agreement that I just placed
18
before you, that was dated June 30, 2004;
19
is that correct?
20 21
A.
Right, terminated by this
letter.
22
Q.
And this letter --
23
A.
October 24.
24
Q.
This letter references a license
25
agreement?
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D. J. Trump
2
A.
Right.
3
Q.
Is that the license agreement,
4
Exhibit 198?
5
A.
I don't know.
6
Q.
Well, let's pull it out.
7
A.
Let's do that.
8
Q.
Exhibit 198 and the two
9
Probably.
amendments.
10
MR. RUSSOMANNO III: One hundred
11
ninety-eight, one hundred ninety-nine,
12
and two hundred; is that what you
13
want?
14
MS. BECK: Yes, sir.
15
A.
Go ahead.
Let's go.
16
Q.
Are those three, the license
17
agreement and the two amendments that were
18
introduced earlier, is that the license
19
agreement that Plaintiff's Exhibit 201 is
20
referencing on its first page?
21 22
A.
It sounds like it, but you'd
have to ask my lawyer.
23
MR. RUSSOMANNO: I object to
24
form.
25
Q.
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D. J. Trump
2
agreement for the Trump Fort Lauderdale
3
project between you or any of your
4
companies and any other entity?
5
A.
6
MR. RUSSOMANNO: I object to the
7
form.
8
Q.
9 10 11 12 13
I don't know.
Do you g any such
document? A.
No, no.
I doubt it, but you'd
have to ask my lawyers. Q.
Mr. Trump, we talked earlier
about the Trump standards.
14
Do you recollect?
15
A.
Uh-huh.
16
Q.
Are the Trump standards -- do
17
you know if the Trump standards have been
18
reduced to writing?
19
MR. RUSSOMANNO: I object to the
20
form.
21
A.
You'd have to ask my son.
22
Q.
Which one?
23
A.
Don.
24
Q.
Exhibit 214 and 215.
25
Have you ever seen these
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D. J. Trump documents before?
3
A.
I think I have.
I've seen them.
4
I haven't gone over them in great detail,
5
but I've seen them.
6
Q.
Is this an example of the Trump
7
standards?
8
A.
Yes.
9
Q.
And Exhibit 215, this is an
10
example of the Trump standards I guess for
11
food and beverage?
12
A.
Yes.
13
Q.
Who at your organization
14
determines how these documents are
15
created?
16
MR. RUSSOMANNO: I object to
17
form.
18
A.
19
Mr. Jim Petrus of The Trump
Organization.
20
Q.
Is he still with your company?
21
A.
Yes, he is.
22
Q.
Do you personally have any input
23
into what goes into the Trump standards,
24
these brochures, these documents before
25
you?
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D. J. Trump
2
A.
Yes.
3
Q.
And how is your input solicited?
4
A.
Just overall input; I want
5
location, I want beautiful buildings, I
6
want important buildings, I want things
7
that are basics, and then my people would
8
get into the details.
9
Q.
Other than Jim Petrus, who else
10
is involved with securing the Trump
11
standards?
12
A.
13 14 15
Primarily Mr. Petrus.
He's the
head of the hotel company. Q.
Were the Trump standards always
-- well, it couldn't have been always.
16
When is the earliest point in
17
time when the Trump standards were put
18
into writing such as in Exhibits 214
19
and 215?
20 21
A.
I don't know.
You'd have to ask
my lawyers.
22
Q.
Your lawyers or Mr. Petrus?
23
A.
Mr. Petrus.
24
Q.
How long has Mr. Petrus been
25
with your company?
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D. J. Trump
2
A.
3
years.
4
Q.
Quite a while, four or five
Do you know if the Trump
5
standards were in writing prior to Mr.
6
Petrus being at your company?
7 8 9
A.
We always had high standards.
I
don't know if it was reduced to writing. Q.
10
Exhibit 248 and 249. Mr. Trump, why did you not
11
develop the project in Fort Lauderdale
12
yourself?
13
MR. RUSSOMANNO: I object to
14
form.
15
A.
Because somebody came along that
16
wanted to develop it and basically it was
17
more of a Bayrock thing than us.
18
Stillman came along and made an offer I
19
guess to Bayrock and he became the
20
developer of the project.
And Mr.
21
Q.
Okay.
22
A.
I never developed the project.
23
I don't know how Bayrock was involved, but
24
I never developed the project.
25
you've spoken to Bayrock so you know how
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D. J. Trump
2
they were involved, but I can't speak for
3
Bayrock.
4
Q.
5
Exhibit 248 and 249. Have you ever seen this fax in
6
Exhibit 248?
Have you ever seen this
7
document before?
8
A.
No.
9
Q.
There's a letter here from Mr.
10
Donald Trump, Junior.
11 12
Why is your son making changes to the floor plans to the project?
13
MR. RUSSOMANNO: I object to the
14
form.
15
A.
He's looking for quality.
He
16
wants to make sure everything is in
17
beautiful shape in of size, in
18
of quality, so he may have changed things
19
because he wants them to be according to
20
the standards.
21
Q.
The Trump standards?
22
A.
Yeah.
23
Q.
Who determines whether or not
24
something is -- rises to the level of a
25
Trump standard?
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D. J. Trump A.
The group, Don Trump, Junior,
maybe Mr. Petrus.
4
Q.
And that decision is made how?
5
A.
By them.
They'd look at the
6
plan.
7
they'd make it so they do like it.
8
They'll increase the standard.
9
Q.
10
They see a plan they don't like and
Okay. Plaintiff's Exhibit 249.
11
A.
Yeah.
12
Q.
Have you ever seen this document
13 14
before? A.
Yes, I believe so.
It was
15
ed through me but I haven't seen it in
16
a long time.
17
Q.
18
Okay. Who gave it to you to look at?
19
A.
I don't know.
20
Q.
And why would you see it?
21
A.
I don't know.
22 23
I just saw it.
It was ed
along the chain and I got to see it. Q.
Did you see it basically to make
24
sure that you wouldn't issue a disapproval
25
of it?
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D. J. Trump A.
3
MR. RUSSOMANNO: I object to the
4
form.
5
A.
6
to see it.
7
Q.
8
No.
No, not at all.
I just happened
Pretty standard stuff. The last page of Plaintiff's
Exhibit 249, is that your writing?
9
A.
Yes, it is.
10
Q.
What is Stiles Construction
11
Company?
12
A.
I don't know.
13
Q.
Are you aware of who they are in
14 15
general? A.
No.
I'm not the developer of
16
the site; you ?
17
developer.
18
Q.
19 form.
21
A.
23 24 25
But you are a developer. MR. RUSSOMANNO: I object to the
20
22
I'm not the
I develop other things.
I
didn't develop this job. Q.
Have you ever heard of Stiles
Construction before? A.
212-267-6868
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D. J. Trump
2
haven't.
3
me.
4 5
That doesn't sound familiar to
Q.
When you develop a job, do you
always hire a construction company?
6
MR. RUSSOMANNO: I object to the
7
form of the question.
8
A.
9 10
Usually you hire a construction
company, yes. Q.
Okay.
11
And what does the job of a
12
developer entail vis-a-vis the
13
construction company?
14
MR. RUSSOMANNO: Objection to
15
form.
16
answered.
17
A.
18
again?
19
for twenty minutes?
20
through it again?
21 22
Q.
Repetitious.
Asked and
Are we going to go through this Didn't we go through this before You want to go
Exhibit 169, 176, 181, 182, 183,
184, and 186.
23
A.
Okay.
24
Q.
Okay.
25
I'm ready.
You defaulted Stillman's
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D. J. Trump company?
3
A.
I didn't default.
4
Q.
Who defaulted them?
5
A.
You said I defaulted.
6
Q.
Yes.
7
A.
No, I didn't default.
We sent a
8
default notice to Mr. Stillman's company.
9
Well, there's a difference.
10
Q.
11 12
Okay. What's the difference?
A.
Why don't you ask the question
13
properly?
14
the Stillman company?
15
Q.
16 17
Did I send a default notice to Yes, we did.
Okay. When you say we, you're talking
about a company that you control?
18
A.
Yes.
19
Q.
That's the distinction that you
20
were making earlier?
21
A.
Yes.
22
Q.
Why did a company that you
23
control default Roy Stillman's company?
24
MR. GILLMAN: Objection to the
25
form.
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D. J. Trump
2
You mean SB Hotel?
3
MR. RUSSOMANNO: Objection to the
4
form.
5
MS. BECK: SB Hotel.
6
A.
Because they had failed to do
7
certain things in accordance with our
8
agreement.
9
Q.
Do you recollect what they were?
10
A.
No, I don't .
But they
11
failed to live up to the agreement that we
12
had.
13
Q.
The license agreement?
14
A.
The agreement, whatever the
15
agreement was, they were not living up to
16
it.
17 18
Q.
Do you know if the bank was
copied on any of that correspondence?
19
A.
I don't know.
20
Q.
Do you know if Corus Bank was
21
notified --
22
A.
I don't know.
23
Q.
-- that your company had
24 25
defaulted SB Hotel Associates, LLC? A.
212-267-6868
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D. J. Trump Q.
Well, look at Plaintiff's
Exhibit 169, please.
4
A.
Okay.
5
Q.
This is a letter from your
6
daughter to Corus Bank letting them know
7
that the license agreement -- under the
8
license agreement between Trump Marks Fort
9
Lauderdale, LLC, SB Hotel Associates, LLC
10
has been defaulted; is that correct?
11
A.
Uh-huh, yes.
12
Q.
Why was Corus Bank notified; do
13
you know?
14
MR. RUSSOMANNO: I object to the
15
form of the question.
16
A.
You'd have to ask my lawyers.
17
They probably have a legal reason why they
18
had to be notified.
19
Q.
Do you feel that this may have
20
been somewhat -- copying the bank may have
21
been somewhat destructive of the property?
22
MR. RUSSOMANNO: I object to the
23
form of the question.
24
A.
25
No, I don't think so.
it's a standard thing.
212-267-6868
I think
The bank would
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D. J. Trump
2
demand to know.
3
think it would have been very destructive
4
of the property.
5
choice.
6
And frankly, if you didn't, the developer
7
would have had to send a notice to the
8
bank anyway immediately; otherwise, they
9
wouldn't be showing what's going on.
10
Q.
If we didn't copy it, I
I think you have no
The bank would have demanded it.
Exhibit 176, this is the notice
11
of default to the Stillman Organization;
12
is that correct?
13
A.
Yeah.
14
Q.
Okay.
15 16
It talks about the Trump standard.
17
Is it your testimony that the
18
reason this notice of default was sent was
19
because the Trump standards were not being
20
met?
21 22
MR. GILLMAN: Objection to form. A.
I think that and other things.
23
You'll have to speak to my attorney but I
24
think that and other things.
25
Q.
212-267-6868
Well, what other things? VERITEXT REPORTING COMPANY www.veritext.com
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D. J. Trump A.
Well, it says you have to
3
complete construction, fit out, furnishing
4
of the restaurant and the bar and the
5
kitchen, which wasn't done.
6
just standards, that's basics.
7 8
Q.
Was it delayed or was it not
getting done ever?
9
MR. RUSSOMANNO: I object to the
10
form.
11
A.
12
So that's not
It was delayed and it looks like
it was not going to get done.
13
Q.
Do you know if it's done now?
14
A.
I don't know, no.
15 16
I don't know
what happened with it. Q.
Does a delay in the project's
17
completion constitute a breach of the
18
license agreement?
19
MR. RUSSOMANNO: I object to the
20
form.
21
A.
22 23 24
Probably, but you'd have to ask
my attorneys. Q.
Do you feel that this notice of
default made a bad situation worse?
25
MR. RUSSOMANNO: I object to the
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D. J. Trump
2
form of the question.
3
A.
We had no choice.
4
Q.
Why not?
5
A.
The building wasn't being
6 7
completed and we had no choice. Q.
Was it your belief at the time
8
that the building would never have been
9
complete?
10
MR. RUSSOMANNO: I object to the
11
form of the question.
12
A.
13
happening.
14
management agreement and we have our name
15
on the building and if it's not going to
16
be completed or it's not going to be
17
finished not only in a timely manner but
18
finished period, then we don't want to be
19
involved with it and we have every right
20
to send this and we obviously did send
21
this.
22
Q.
I didn't know what was All I know is we had a
If and when that building is
23
finished, is it your position that that
24
building is not entitled to hold the Trump
25
name anywhere?
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D. J. Trump
2 3
A.
Yes, we took our name off that building.
4 5
Yes, because we defaulted them.
You're talking about finished now?
6
Q.
Well, yes.
7
A.
Well, now a new group will own
8
the building and does own the building at
9
some point.
I don't know what's happening
10
with the building now.
11
had to be finished and it had to be
12
finished in accordance with what we were
13
doing and with our standards and with our
14
letters and it wasn't finished and it
15
looked like it was quite a bit delayed, to
16
put it mildly.
17
Q.
But the building
Mr. Trump, if the building, if
18
and when it's finished, if it does meet a
19
certain standard of luxury that will meet
20
the Trump standards, is it still your
21
position that it is not entitled to hold
22
the Trump name anywhere?
23
MR. RUSSOMANNO: I object to the
24
form.
25
A.
212-267-6868
The new owners would have to VERITEXT REPORTING COMPANY www.veritext.com
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D. J. Trump come to us and make a deal with us. Q.
4
Start over? MR. RUSSOMANNO: I object to the
5
form of the question.
6
A.
Yeah, the new owners of the
7
building would have to come to us to make
8
a deal.
9
Q.
10
agreement?
11
A.
12
agreement.
13
Q.
14
Enter into a new license
Yes, a brand-new license
Which may or may not happen? MR. RUSSOMANNO: I object to the
15
form of the question.
16
A.
17
Which may or may not happen,
yeah.
18
Q.
And that is up to you to decide?
19
A.
Well, and the new owners.
20
Q.
Exhibit 181.
21
A.
Go ahead.
22
Q.
Do you speaking about
23
defaulting the SB Hotel Associates, LLC
24
with your daughter?
25
A.
212-267-6868
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D. J. Trump Q.
3 4 5
Okay. What was the content of that
conversation? A.
She was very unhappy with the
6
fact the job wasn't being built in a
7
timely manner, it wasn't being built
8
according to what our hotel
9
representatives felt it should be, and I
10
guess this was the beginning of the
11
letters that was sent.
12
Q.
Who hired the hotel staff?
13
A.
Mr. Petrus.
14
Q.
Who paid the hotel staff?
15
A.
I don't know.
16
Q.
Do you know how payroll at your
17
organization and its d companies
18
work?
19 20 21
A.
It's very different for each
company. Q.
Can employees of your
22
organization and its d companies
23
all -- it's not true that each of your
24
d companies has its own payroll?
25
Would you know that?
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D. J. Trump
2
MR. RUSSOMANNO: I object to
3
form.
4
A.
Some do have their own payroll
5
and some don't.
6
own payroll.
7 8 9
Q.
This would have had its
When you're talking about this,
you're talking about what? A.
Again, it's not our company.
10
This was this is a company that was owned
11
by somebody else.
12
of the building and the licensee.
13 14 15
Q.
We're just the manager
You're talking about Trump
International Hotels Management, LLC? A.
I'm talking about the building
16
in Fort Lauderdale that you're talking
17
about.
18
Q.
You're talking about the people
19
who would work at the hotel as its staff
20
would have their own payroll, is what
21
you're saying?
22
A.
I think so.
23
Q.
Why?
24
A.
Because it's a separate entity
25
Most likely.
and it's not owned by The Trump
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D. J. Trump Organization. Q.
When you say it's not owned by
4
The Trump Organization, who would own it?
5
MR. RUSSOMANNO: I object to the
6
form of the question.
7
A.
I just told you about fifteen
8
times.
This is Mr. Stillman's company.
9
Mr. Stillman is the developer of this
10
site.
11
involvement is, whether they were an owner
12
or not.
13
this site.
14
Q.
15
I don't know what the Bayrock
Mr. Stillman is the developer of
What about the hotel management
company?
16
A.
That's different.
17
Q.
You would own that; yes?
18
MR. RUSSOMANNO: I object to the
19
form of the question.
20
A.
Yes, but you didn't ask me that.
21
You said who would own the building.
22
own the management company.
23
Q.
Right.
24
A.
As I've said many times.
25
Q.
Plaintiff's Exhibit 183.
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We
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D. J. Trump
2
A.
Yes.
3
Q.
Do you getting this
4
Go ahead.
from Mr. Stillman?
5
A.
No.
6
Q.
When something is addressed to
7
you --
8
A.
9 10
I vaguely.
I gave it
to my lawyers. Q.
11
Okay. When your company and yourself
12
entered into all these agreements prior to
13
the project beginning, was there an
14
understanding about how the hotel revenues
15
would be divided between an owner of a
16
unit and whoever is managing the unit?
17
MR. RUSSOMANNO: I object to the
18
form.
19
A.
I think that would be up to the
20
hotel management people to make sure the
21
distributions were made in accordance with
22
a certain procedure.
23 24 25
Q.
Hotel management people meaning
your company? A.
212-267-6868
Mr. Petrus and perhaps Mr. VERITEXT REPORTING COMPANY www.veritext.com
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D. J. Trump
2
Stillman, working as the owner of the
3
project, you know, the development, they
4
would have to work something out.
5
Q.
Does the word "split" mean
6
anything to you, a hotel room split
7
between owner and manager?
8 9
MR. RUSSOMANNO: I object to the form of the question.
10
A.
Yeah, it's a standard phrase.
11
Q.
What's the split in SoHo?
12
A.
I don't know.
13
my ants.
14
the split is.
You'd have to ask
I really don't know what
15
Q.
Exhibit 184.
16
A.
Yes.
17
Q.
This is a continuation of your
18
correspondence with Mr. Roy Stillman?
19
A.
Correct.
20
Q.
In the dispute over the license
21
agreement?
22
A.
Yes.
23
Q.
And Exhibit 186.
24
A.
Yes.
25
Q.
This is also a continuation of
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D. J. Trump that correspondence?
3
A.
Yes.
4
Q.
Mr. Trump, all the letters that
5 6
were sent by you or -A.
By the way, when I talk about
7
Roy Stillman, SB Hotel, as you know, is
8
the developer.
9
Q.
Well, yes, I --
10
A.
I'm talking about SB Hotel which
11
I believe Mr. Stillman owns.
12
is the developer, not Mr. Stillman.
13
Q.
But SB Hotel
I understand that your position
14
is that SB Hotel Associates, LLC is the
15
developer.
16
A.
17 18
Whatever the name of that entity
is, just so you can be clear on that. Q.
Is it because SB Hotel
19
Associates, LLC built the building; is
20
that why --
21
MR. GILLMAN: Objection to the
22
form of the question.
23
A.
I just told you, that's the name
24
of the entity that's developing the site,
25
SB Hotel.
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D. J. Trump
2
Q.
Okay.
3
And how do you determine which
4
entity is the entity that's developing a
5
particular site?
6
MR. RUSSOMANNO: I object to the
7
form of the question.
8
A.
9
and the legal entity is the developer.
10 11
Q.
How do you determine which legal
entity is the developer?
12 13
They're known as the developer
A.
You'd have to ask their lawyers
and our lawyers.
14
Q.
Exhibits 184, 182, 181, 176,
15
and 169, are the contents of these
16
exhibits true?
17
MR. GILLMAN: I object to form.
18
MR. RUSSOMANNO: I object to the
19
form of the question.
20
A.
21
true.
22 23
You mean do I see the exhibits? Yes.
24 25
I don't know what you mean by
Are they true? Q.
212-267-6868
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D. J. Trump
2
A.
3
right?
4
Q.
These are letters written to me;
No, sir, they're all sent out on
5
Trump Marks Fort Lauderdale, LLC
6
letterhead.
7 8
A.
This was written by SB Hotel,
they weren't written by us.
9
Q.
Exhibit 169 --
10
A.
Wait a minute, one hundred
11
eighty-six, you said one hundred
12
eighty-six.
13
Q.
No, I started over.
14
A.
Well, you didn't do that.
15
gave us the wrong exhibits.
16 17 18 19
You
Yes, one hundred sixty-nine is true. Q.
All the letters sent out on
Trump Marks Fort Lauderdale, LLC --
20
A.
Yes, that would be true.
21
Q.
They are all true?
22
A.
But you didn't ask that question
23
before.
24
letters.
25
Q.
212-267-6868
You asked about somebody else's
Well, let me start over. VERITEXT REPORTING COMPANY www.veritext.com
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D. J. Trump A.
The letters that were sent out
3
on Trump or like signed by Ivanka Trump,
4
yes, we believe they are true.
5
Q.
And they are true today?
6
MR. GILLMAN: I object to form.
7
MR. RUSSOMANNO: I object to the
8
form.
9
A.
10 11 12
Yes.
I mean, I don't know what
your definition of today is. Q.
You still believe that they're
true today?
13
MR. GILLMAN: I object to form.
14
MR. RUSSOMANNO: I object to
15
form.
16
A.
Yes.
17
MS. BECK: Exhibit 324.
18
(Whereupon, a copy of a
19
newspaper article was marked
20
Plaintiff's Exhibit 324
21
for identification.)
22 23
MS. BECK: It's Bates stamped BAY-1TRIL 000179 and 180.
24 25
THE WITNESS: Let's go.
I'm
ready.
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D. J. Trump Q.
Did you ever read this article
before?
4
A.
No, I haven't.
5
Q.
Mr. Trump, why -- adding your
6
name to a building adds value; is that
7
correct?
8
A.
Yes.
9
Q.
How much?
10
A.
I don't know.
It depends on the
11
location, it depends on the building, but
12
typically it would add value.
13 14
Q.
On the low end and high end do
you have numbers per square foot?
15
A.
No.
16
Q.
I want to direct your attention
17
to the second page of this article.
18
On the bottom of the middle
19
column it says, "a New York real estate
20
brokerage once estimated Trump's name adds
21
about eighteen percent to prices a
22
condominium tower can charge."
23 24 25
Do you disagree with that? A.
I think it's higher, but
eighteen percent is substantial.
212-267-6868
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But I
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D. J. Trump
2
think it would be actually much higher in
3
many cases.
4
Q.
It also goes on to say, "this
5
gentleman thought Trump could probably
6
tack at least a $200 a foot in
7
Fort Lauderdale."
8 9 10
Do you agree with that? A.
I think that's
true.
11 12
Yeah, I do.
MS. BECK: This is also a new exhibit, Exhibit 325.
13
(Whereupon, an e-mail dated
14
May 13, 2009 was marked Plaintiff's
15
Exhibit 325 for identification.)
16 17
MS. BECK: And it's Bates stamped CCVPROD 0003086 and 3087.
18
And in conjunction with this
19
one, I also have Plaintiff's
20
Exhibit 326, which is Bates marked
21
CCVPROD 0003097 up to 3100, four
22
pages.
23
(Whereupon, a letter dated
24
June 2, 2009 was marked Plaintiff's
25
Exhibit 326 for identification.)
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D. J. Trump
2
THE WITNESS: Are you ready?
3
MR. GILLMAN: Excuse me, I have
4
to see Exhibit 326.
5
provide me with copies.
6
They didn't
MR. RUSSOMANNO III: We'll give
7
him the marked one real quick.
8
MR. GARTEN: Go ahead, Elizabeth.
9
Ask the question.
10
Q.
Have you ever seen this e-mail
11
exchange between Mr. Tom Manno and Roy
12
Stillman before?
13
A.
No, I have not.
14
Q.
Do you know who Mr. Tom Manno
16
A.
No, I do not.
17
Q.
Okay.
15
is?
18
In the first e-mail of
19
Plaintiff's Exhibit 325, Mr. Stillman
20
says, "please understand that the Trumps
21
shot a well-placed torpedo that has had
22
the intended effect.
23
reason to think that their letter would
24
cause a default with the bank and
25
cessation of funding.
212-267-6868
They had every
It did."
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D. J. Trump
2
Do you agree with that?
3
A.
4
No. MR. RUSSOMANNO: I object to the
5
form of that question.
6
Q.
Do you know what he's referring
7
to when he talks about a well-placed
8
torpedo?
9
A.
No, I don't.
They were in
10
default, they understood they were in
11
default, and that's it.
12
simple and open process.
13
default.
14
agreement.
15
default.
It was a very They were in
They hadn't lived up to the And we sent them a letter of
16
Q.
The license agreement?
17
A.
Yeah.
18
Q.
Did you ever have a conversation
19
with Mr. Stillman regarding the license
20
agreement prior to sending out the letter
21
of default?
22
A.
I believe -- I mean, I had
23
numerous conversations with him saying get
24
going, get going, get it going, get the
25
building going.
212-267-6868
I had actually heard the
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D. J. Trump
2
bank stopped funding before this, but
3
again that was only hearsay.
4
was reasons for default and you see that
5
in the default notice.
6
Q.
But there
Is it your position that the
7
default notice is justified even if it
8
turned out that it was not within Mr.
9
Stillman or SB Hotel Associates, LLC or
10
the Stillman Organization's control?
11
MR. RUSSOMANNO: I object to the
12
form.
13
A.
14
had the control.
15 16 17
Well, he was the developer so he
MR. GILLMAN: . A.
He was the developer.
He had
the control.
18
Now, I don't think there's any
19
question about that.
20
had the control.
21
his relationship with his bank.
22
heard Corus didn't fund before this, but
23
that's up to Mr. Stillman and his bank.
24
don't know.
25
Q.
212-267-6868
As the developer, he
Now, I can't speak to I had
I
Mr. Stillman is the primary VERITEXT REPORTING COMPANY www.veritext.com
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D. J. Trump person that dealt with the bank? A. bank.
5
MR. RUSSOMANNO: I object to the
6
form.
7
Q.
8 9 10
Well, we didn't deal with the
Why not? MR. RUSSOMANNO: I object to the
form. A.
Because as I've said about
11
fifteen times today, we just -- we were
12
the manager.
13
agreement.
14
developer.
15
Q.
We have a management Mr. Stillman was the
So it wouldn't be -- you
16
wouldn't be interested in knowing about
17
what's going on with the bank?
18
MR. RUSSOMANNO: I object to the
19
form of the question.
20
A.
21
developer.
22
very heavily on Mr. Stillman as the
23
developer.
24
Q.
25
We have to rely on the He's the developer.
We relied
What about the estoppel
certificates that were signed?
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D. J. Trump A.
for a bank. Q.
You have no choice.
That was sent to you via Mr.
MR. RUSSOMANNO: I object to the
7
form.
8
A.
10
Everybody signs them
Stillman, those estoppel certificates?
6
9
Standard.
No, I think probably through the
bank, actually. Q.
Very standard.
Other than the estoppel
11
certificates, what other interactions did
12
you or your organization or its s
13
have with Corus Bank?
14
MR. RUSSOMANNO: I object to the
15
form.
16
A.
Nothing that I would know of.
17
Q.
You mentioned earlier that it
18
was within Mr. Stillman's control.
19
What about the lack of funding
20
that he is referencing, was that within
21
his control?
22 23
MR. RUSSOMANNO: I object to the form.
24 25
MR. GILLMAN: Objection to the form.
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D. J. Trump A.
Yeah, because if the building
3
were built in a timely manner and
4
according to plans and specifications, the
5
bank would have to fund.
6 7
Q.
Are you aware that Corus Bank no
longer exists?
8
A.
Yes.
9
Q.
What is your response to the
10
statement that funding dried up because
11
Corus Bank was in financial difficulties?
12
MR. RUSSOMANNO: I object to the
13
form.
14
A.
That's possible, that's
15
possible.
16
Stillman's fault.
17
troubled bank and I don't even know if it
18
exists any longer.
19
quite some time, including the time toward
20
the end of this project.
21
possible.
22
Mr. Stillman, he cannot be responsible for
23
a major bank that fails.
24
big bank.
25
Q.
212-267-6868
And that would not be Mr. Corus Bank is a known
And it was known for
So that's
And if that's the case, then
That was a very
You mentioned earlier -- you VERITEXT REPORTING COMPANY www.veritext.com
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D. J. Trump
2
referenced a crash in the real estate
3
market?
4
A.
Yes.
5
Q.
And in connection with that
6 7
crash, financing dried up? A.
In connection with -- well, I
8
don't know about this financing but
9
generally speaking financing dried up.
10
Your clients are actually very
11
lucky that they didn't close on their
12
units because their units would be worth
13
about twenty-five percent of what they
14
would have paid.
15
Q.
Mr. Trump --
16
A.
So they're very lucky.
17 18 19 20
So tell
your clients they got very lucky. Q.
Mr. Trump, they testified under
oath that they would still like to close. A.
Oh, I don't think so, I don't
21
think so.
22
Their units would be worth -- just because
23
of the market, not because of the
24
building.
25
the market is much lower right now.
212-267-6868
Unless they have a death wish.
But if you look at the market,
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So
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D. J. Trump
2
your clients got very lucky that they
3
didn't close.
4
and therefore you have absolutely no
5
damages, in my opinion.
6 7
Q.
They saved a lot of money
Mr. Trump, you said the market
is bad.
8
A.
Yeah, very bad.
9
Q.
The market is bad uniformly?
10
A.
The market is very bad
11
throughout the United States and in large
12
cases throughout the world, yes.
13 14
Q.
All property basically
depreciated in value?
15
MR. RUSSOMANNO: I object to
16
form.
17
A.
Yes, I would say almost all
18
property depreciated and properties in
19
this area and in Miami and Fort Lauderdale
20
depreciated not just a little bit but
21
tremendous numbers.
22
and as I alert my lawyers and your lawyers
23
and everybody else, the fact is that your
24
clients got very lucky that they didn't
25
purchase these units because they saved a
212-267-6868
And as I said before
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D. J. Trump
2
tremendous amount of money because their
3
properties would be worth much less right
4
now just because the market conditions.
5
So congratulate your clients.
6
Q.
Mr. Trump, if property values
7
plummeted, was your concern with removing
8
your name from the building being
9
associated with a building that would be
10
valued considerably less than what you
11
originally anticipated?
12
MR. RUSSOMANNO: I object to
13
form.
14
A.
No, my concern was we wanted to
15
have a nice hotel that would be open and
16
beautiful and, when people came in, it
17
would be an absolutely beautiful building,
18
and unfortunately that wasn't taking
19
place.
20
that wasn't taking place because whether
21
it was Corus Bank or whether it was Mr.
22
Stillman or his company, the building
23
wasn't being completed.
24
have a hotel there and unfortunately
25
wasn't getting built and that's too bad.
212-267-6868
Whether values went up or down,
We would love to
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it
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D. J. Trump
2
But your clients had no damages because
3
they would have lost a tremendous amount
4
of money, as did all other people that
5
bought apartments or just about all other
6
people at that time because the market
7
crashed.
8
They got very lucky.
9 10 11
Q.
So your clients have no damages.
What about the money they put
down? A.
That was much less than they
12
would have lost in of the
13
depreciation of their units.
14 15
Q.
What about the money they put
down?
16
MR. RUSSOMANNO: I object to the
17
form.
18
A.
The money they put down is
19
peanuts compared to the value of
20
depreciation.
21
piece of paper and a pencil, you'll find
22
that out.
23
that out.
24
Q.
25
If you sit down with a
Even you will be able to figure
You called it peanuts. They're not entitled to those
212-267-6868
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Page 108 1 2 3
D. J. Trump peanuts? A.
I said to you that the money
4
that they put down and the money they got
5
back and have gotten back, will get back,
6
is very little compared to the amount of
7
-- to the loss of value that all people in
8
Florida and many, many other places,
9
California, Arizona, and throughout the
10
United States have lost.
11
home values where they went down fifty,
12
sixty, seventy, eighty, and ninety
13
percent, so they did not -- in other
14
words, had this building been built and
15
had they been forced to close on their
16
units, they would have lost a tremendous
17
amount of money.
18 19 20 21
Q.
If you look at
You mentioned earlier money that
they're going to get. A.
I don't know what the situation
is, but if they get money back --
22
Q.
What money?
23
A.
I don't know.
But if there's
24
money available to be given back, that's
25
fine as far as what I'm concerned.
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D. J. Trump
2 3
Q.
Have you ever seen Plaintiff's
Exhibit 326 before?
4
A.
Not that I know of.
5
Q.
Are you aware that Stiles
6
Construction placed a lien on the building
7
in an amount of over $2 million?
8
A.
I'm not aware of that, no.
9
Q.
Plaintiff's Exhibit 168.
10 11
Have you ever seen this letter before?
12 13
A.
written to.
14 15
It doesn't seen say who he's
Q.
I didn't black that out.
This
was produced by your companies.
16
A.
Not by my company.
17
Q.
It says TMP on the bottom.
18
A.
I don't know what this letter
19
is.
20
sections are redacted.
21 22
I haven't seen it.
Q.
I mean, important
Do you know why this says
confidential on the bottom, Mr. Trump?
23
A.
No, I have no idea.
24
Q.
Okay.
25
Mr. Trump, what was your
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D. J. Trump
2
understanding of the conditions that had
3
to be in place for the hotel to open?
4
MR. RUSSOMANNO: I object to the
5
form of the question.
6
A.
7
It's got to be a completed
building.
8
Q.
9
standards?
10
A.
The building wasn't completed. According to the Trump
No, it wasn't completed not even
11
according to standards.
12
completed.
13
Q.
It wasn't
What happens if the building is
14
complete, is there a condition of a
15
certain number of closings that had to
16
happen prior to the hotel opening?
17
MR. RUSSOMANNO: I object to the
18
form.
19
A.
20
my lawyer.
21
Q.
I don't know.
You'd have to ask
I'm going to ask you to look at
22
Plaintiff's Exhibit 168 again, the second
23
page.
24 25
It says, "opening of hotel." I don't know if you answered
this question before, but have you seen
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Page 111 1 2
D. J. Trump this letter before?
3
MR. RUSSOMANNO: He answered.
4
A.
I don't having seen it.
5
Q.
I'm going to tell you Mr. Trump,
6
that this is a closing notice to a buyer
7
of the Fort Lauderdale project.
8
A.
Right.
9
Q.
Okay.
10 11
Did you see a draft of any such letter?
12
A.
I don't believe so, no.
13
Q.
Did this letter go out with your
14 15
approval? A.
16
Not that I know of. MR. RUSSOMANNO: I object to the
17
form.
18
Q.
As you sit here today, do you
19
feel that this letter was sent out -- was
20
a proper correspondence?
21
MR. RUSSOMANNO: I object to the
22
form.
23
A.
Well, I think Mr. Stillman and
24
SB Hotel did a great service to people
25
because if they closed, as I said, their
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D. J. Trump
2
units would be worth a lot less money.
3
He's just stating the facts.
4
seen this but he's stating the facts.
5
He's actually being very honorable in
6
sending such a letter.
7
speak to the lawyers.
8
the facts and, had people actually closed
9
on their unit, they would have lost a lot
I haven't
You'd have to But he is stating
10
of money because the unit values have gone
11
down so substantially.
12 13 14
Q.
When you say honorable, what do
you mean? A.
Well, he's stating facts that a
15
lot of people wouldn't state.
16
about the default notice, he talks about
17
other elements, and I think he saved these
18
people from losing a lot of value after
19
they purchased the unit.
20
Q.
He talks
Mr. Trump, are you basically
21
saying that, because he was honest in this
22
letter, he scared off buyers from closing?
23
MR. RUSSOMANNO: I object to the
24
form of the question.
25
A.
212-267-6868
He actually saved them a lot of VERITEXT REPORTING COMPANY www.veritext.com
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D. J. Trump
2
money because the values from the date of
3
this letter have gone down very
4
substantially.
5
Q.
6
May, 2000.
7
A.
8 9
That's not 2000.
No.
That's not
I think it's probably 2009.
Values have gone down very substantially. Q.
If you look at the second page
10
of this letter, Mr. Stillman or SB Hotel
11
Associates, LLC states that, "given the
12
uncharted economic climate," it goes on to
13
say that, "we do not believe that the
14
hotel operation will open if purchasers
15
have closed on fewer fifty percent of the
16
units in the condominium."
17 18
Do you believe that to be true at the time?
19
MR. GILLMAN: I object to form.
20
MR. RUSSOMANNO: I object to
21
form.
22
A.
He's stating his opinion.
23
Q.
What's your opinion?
24 25
MR. RUSSOMANNO: I object to form.
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Page 114 1 2
D. J. Trump A.
My opinion is that their units
3
would have gone down in value and they're
4
lucky they didn't close.
5
Q.
What's your opinion as to the
6
statement that the hotel operation could
7
not open unless fifty percent of the
8
people closed?
9 10
MR. GILLMAN: Objection to the form.
11
MR. RUSSOMANNO: I object to the
12
form of the question.
13
A.
That's really up to SB and to
14
Mr. Stillman to say, not to me.
15
he's the developer, as I've told you
16
before.
17
would know that number better than us.
18
was the developer.
19
I didn't write the letter; he wrote it.
20
Q.
I'm not the developer.
I mean,
So he He
That was his opinion.
Did you or your organization
21
and/or its s have -- did you stay
22
abreast of the closing process --
23
A.
24 25
See abreast? MR. RUSSOMANNO: I object to the
form.
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D. J. Trump
2
Q.
Stay abreast.
3
A.
You mean stay abreast?
4
Q.
Well, English is not my first
5 6
language, Mr. Trump. A.
7 8
Okay. Well, that's good.
I have great
respect for that.
9
MR. RUSSOMANNO: I object to
10
form.
11
Q.
Thank you.
12
A.
What is your first language?
13
Q.
Korean.
14
A.
Okay.
15 16
So go ahead, what's your problem?
17 18
Excellent.
MS. BECK: Could you read back my last question, please.
19
(Whereupon the requested portion
20
was read back by the reporter).
21
Q.
22
Of the closing process and the
sales process.
23
MR. RUSSOMANNO: I object to
24
form.
25
A.
212-267-6868
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D. J. Trump
2
really much more interested in making sure
3
that the hotel -- that the developer
4
completed the hotel.
5
interest because we were going to be
6
operating a hotel and unfortunately it
7
wasn't completed.
8 9
Q.
That was our primary
You, The Trump Organization or
its s, didn't have an interest in
10
making sure that people closed at certain
11
prices?
12
MR. RUSSOMANNO: I object to the
13
form.
14
A.
No, we didn't
as I said, we
15
were watching for the completion of the
16
hotel.
17
the hotel.
18
get it completed not only in standards but
19
they couldn't get it completed.
20
were certainly interested in seeing that
21
everybody got everything right.
22
watching the standards, we were trying to
23
make it good for everybody so that when
24
they did buy a unit, if they did buy a
25
unit, they would get a unit that was built
212-267-6868
We were getting ready to manage Unfortunately, they couldn't
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So we
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D. J. Trump to a high standard. Q.
What is your understanding of
4
whether or not a buyer can occupy the
5
unit?
6
MR. RUSSOMANNO: I object to the
7
form.
8
A.
9 10 11 12 13 14 15
You mean according to his
letter? Q.
Well, he references occupy
issues. A.
You'll have to ask Mr. Stillman
because he wrote the letter, I didn't. Q.
What is your understanding of
the occupancy?
16
MR. RUSSOMANNO: I object to the
17
form.
18
A.
I don't have an understanding.
19
I'm not the developer.
20
manage the hotel, hopefully.
21
manage the hotel.
22 23
Q.
We wanted to
You mentioned earlier that the
project was not completed.
24 25
All we did was
MR. RUSSOMANNO: Objection. Q.
212-267-6868
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D. J. Trump letter was sent out?
3
A.
That's correct, yes.
4
Q.
What is your definition of
5
completion?
6
MR. RUSSOMANNO: I object to the
7
form of the question.
8
Q.
When is a project --
9
A.
Completion as far as we're
10
concerned, because we're the manager of
11
the hotel, was when it was furnished and
12
ready and beautiful and everything was
13
perfect and the elevators were working
14
properly and all of the things that we
15
needed to operate a first class hotel.
16
They weren't done, unfortunately.
17
my definition of completed, furnished and
18
beautiful.
19
Q.
That's
It has nothing to do with
20
obtaining a certificate of occupancy from
21
the required authorities?
22 23
MR. RUSSOMANNO: I object to the form.
24 25
MR. GILLMAN: Objection to the form.
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D. J. Trump A.
We need more than a certificate
3
of occupancy.
We need furniture in the
4
rooms.
5
you can get a certificate of occupancy
6
without having it furnished but in the
7
meantime people bought hotel rooms and
8
they bought hotels.
9
don't know what their closing standard
Again, we're running a hotel.
So
From our standard, I
10
was, but from our standard, in of
11
running a first class operation, we needed
12
everything one hundred percent according
13
to Hoyle.
14
needed beautiful elevators, we needed it
15
to be done in a first class manner.
16
Q.
We needed furnishings, we
Were you aware that a
17
certificate of occupancy was obtained for
18
the building, for the project?
19
A.
Well, there may have been a
20
construction certificate of occupancy, but
21
you needed furnishing and you needed other
22
things.
23
probably know.
It was not in good shape, as you
24
MS. BECK: Exhibit 327.
25
(Whereupon, an e-mail dated
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D. J. Trump
2
May 13, 2009 was marked Plaintiff's
3
Exhibit 327 for identification.)
4
Q.
Mr. Trump, the first e-mail of
5
this chain is an e-mail from Mr. Schwarz
6
to Stillman and he states here, "with you
7
on the completion and Trump the direct and
8
proximate cause of the direct default.
9
guess we can all see where this is
10
heading."
11
default under the license agreement a
12
default under the loan."
I
And he goes on to say, "was a
13
Do you know if a default under
14
the license agreement is a default under
15
the loan?
16
MR. RUSSOMANNO: I object to the
17
form of the question.
18
A.
I would think so.
19
Q.
Why?
20
A.
Because --
21
MR. RUSSOMANNO: I object to the
22
form.
23
A.
-- they bought a high standard
24
building and unfortunately it wasn't being
25
built.
212-267-6868
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D. J. Trump
2
funded before this was sent because I had
3
heard it wasn't being funded prior to any
4
letters being sent.
5
was not at a level that it could have been
6
a hotel and it certainly was at a very low
7
standard.
8
had signed onto.
9
Obviously the hotel
It was not the standard that we
MS. BECK: We're going to go to
10
the original marketing materials.
11
Q.
12
You can look.
There's a
number --
13
A.
Okay.
I looked.
14
Q.
I'm going to introduce them into
15
the record again.
They are Exhibits 301,
16
302, 304, 305, 306, 307, 311, 312, 313,
17
and 314.
18
A.
Okay.
19
Q.
Have you seen these before?
20
A.
Yes.
21
Q.
They were all manufactured and
22
prepared with your approval?
23
MR. RUSSOMANNO: I object to the
24
form.
25
A.
212-267-6868
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D. J. Trump
2
approval, yes.
3
approved this.
Mr. Petrus would have
4
Q.
All these exhibits --
5
A.
Go ahead.
6
MS. BECK: Off the record for a
7
second.
8
(Discussion held off the record
9
at 12:21 p.m.)
10
(Whereupon the deposition
11
resumed at 12:21 p.m.)
12
Q.
Mr. Trump, there's text in these
13
marketing materials that I just showed
14
you.
15
A.
Okay.
16
Q.
Do you feel that that text is
17
accurate?
18
A.
19
You'd have to show me. MR. RUSSOMANNO: I object to the
20
form of the question.
21
Q.
22
overstate your involvement in the project?
23 24
Well, do you feel that they
A.
What are you referring to?
Show
me.
25
MR. RUSSOMANNO: I object to the
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2
form of the question.
3
Q.
For example, Exhibit 307 states,
4
"the signature development by Donald J.
5
Trump will become a destination for many
6
and a home for the select few."
7
A.
Well, I think that's standard
8
advertising language that frankly we were
9
hoping to have that, absolutely.
We have
10
a beautiful site on the water, yes.
11
were looking to have that.
12
have been a signature development or we
13
wouldn't have done it.
14 15
Q.
We
This would
You have other signature
developments; isn't that true?
16
A.
Yes, we do.
17
Q.
And your position is that those
18
signature developments are developed by
19
you, you are the developer?
20 21 22
A.
In some cases they're developed
by me and in some cases they're not. Q.
Why does this advertising
23
material not state this signature
24
development or this development by SB
25
Hotel Associates, LLC with Donald Trump as
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D. J. Trump licensor? A.
Well, according to my lawyers,
4
it's all over the documents, it's all over
5
the -- you can't put everything into a
6
small ad.
7
that I'm not the developer.
8 9 10 11
Q.
It's all over the documents
Well, what about the documents
before you with the advertising materials -A.
You can't put it in advertising
12
materials because there's not enough room.
13
But the documents they signed, it's all
14
over the place that I'm not the developer.
15 16
Q.
What happens if there are
statements that contradict each other?
17
MR. RUSSOMANNO: I object to the
18
form of the question.
19
A.
20 21
I don't see any contradiction.
I think it's very simple. Q.
It's your testimony that the
22
statement "this signature development by
23
Donald J. Trump" is consistent with the
24
position that Donald J. Trump is not a
25
developer of this project?
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2
MR. RUSSOMANNO: I object to the
3
form.
4
A.
Absolutely.
They've signed
5
documents that say I'm not the developer
6
of the site.
Absolutely.
7
Q.
What documents are those?
8
A.
My lawyers can show you.
9
MR. RUSSOMANNO: If you want him
10
to identify it.
11
Q.
Is it your testimony that -- I
12
was going to go through other texts here,
13
and we can do that or I can just ask
14
you --
15
A.
16 17
Go ahead and ask me whatever
you'd like. Q.
The text in these exhibits, is
18
it your testimony that they don't
19
overstate your involvement with the
20
project?
21
MR. RUSSOMANNO: I object to the
22
form of the question.
23
A.
No, my involvement with the
24
project is stated in agreements that
25
everybody signed.
212-267-6868
This is a very short
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2
form ad, mostly pictures, of what the
3
development is going to look like.
4
Q.
And you agree with the language
5
contained in these ments and
6
marketing materials?
7
MR. RUSSOMANNO: I object to the
8
form of the question.
9
A.
I believe it is a signature
10
development, yes.
11
this would have been a beautiful
12
development had they been able to complete
13
it.
14
less than what the people signed on to buy
15
it for.
16
This is a beautiful --
But it would have been worth a lot
Q.
Any text in these marketing
17
materials, are there any text in these
18
marketing materials that you would
19
disagree with?
20
MR. RUSSOMANNO: I object to
21
form.
22
A.
23
read them, and get back to you.
24 25
I would have to take them back,
Q.
Mr. Trump, we can do that right
now.
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2
This is Plaintiff's Exhibit 306.
3
Is that a letter prepared by
4 5 6
you? A.
Yeah, this is an advertising
letter.
7
Q.
That's your signature; yes?
8
A.
Yes, it is.
9
Q.
Do you stand by the statements
10
in that letter?
11
MR. RUSSOMANNO: I object to the
12
form.
13
A.
Well, I stand by the legal
14
documents that everybody signed.
15
a Trump International Hotel and Tower, it
16
is a magnificent oceanfront resort
17
offering the finest -- this would have
18
happened had the building been completed.
19
Unfortunately the developer wasn't able to
20
complete the building.
21
Q.
22 23
I understand. Do you stand by the statements
in this letter?
24 25
This is
MR. RUSSOMANNO: I object to the form of the question.
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D. J. Trump A.
I stand by the statements that
are in the document that everybody signed. Q.
5
But not this letter? MR. RUSSOMANNO: I object to the
6
form.
7
A.
I have no problem with that
8
letter.
But that's just a quick little
9
advertising piece.
But I stand by the
10
statements that are in the document that
11
everybody read and everybody signed and
12
everybody fully understands.
13
knew I wasn't the per se developer.
14
running it, I was managing it, and we were
15
going to manage it beautifully.
16
Unfortunately it never got completed.
17
Q.
And they I was
Okay.
18
Do you feel that the statements
19
in this letter which starts out with, "it
20
is great pleasure that I present my latest
21
development," this letter is consistent
22
with the documents that the buyers signed?
23
MR. RUSSOMANNO: I object to the
24
form.
25
A.
212-267-6868
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2
document.
3
goes along with the document.
4
document obviously is signed and in great
5
detail and it explains my role.
6
Q.
It's not one or the other. The
And this letter does not
7
contradict any document that a buyer
8
signed?
9
MR. RUSSOMANNO: I object to the
10
form.
11
A.
12 13 14
It
No, I don't think it
contradicts. Q.
Exhibits 311, 312, 313, and 314.
I didn't mention them earlier.
15
Mr. Trump, is there a difference
16
between being a developer of a project
17
versus a licensor/hotel manager of a
18
project from the building being completed
19
point of view?
20
MR. RUSSOMANNO: I object to the
21
form of the question.
22
A.
The developer would build the
23
building, would make sure that the
24
building is completed.
25
be licensing the name.
212-267-6868
The licensor would
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2
Q.
If a --
3
A.
To the developer.
4
Q.
Mr. Trump, if a building is
5
developed by you, would the Trump name be
6
removed from that building?
7
happen?
8 9 10
Could that
MR. RUSSOMANNO: I object to the form of the question. A.
If the bank took over the
11
building, it could.
12
unsuccessfully developed, the bank might
13
take the name off the building.
14 15
Q.
If it was
Is that decision the bank's
decision?
16
MR. RUSSOMANNO: I object to the
17
form.
18
A.
It depends.
If it was developed
19
by me and if it didn't work out and the
20
bank took it over, I guess the bank could
21
do whatever they wanted with the name.
22
They could leave it or take it off.
23 24
Q.
But that decision would not rest
with you; is that correct?
25
MR. RUSSOMANNO: I object to the
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2
form of the question.
3
A.
You're talking about if a
4
building was developed by me and was taken
5
back by a bank?
6
Q.
I'm talking about if a building
7
was developed by you, the way you
8
understand developer to be, you are the
9
developer of a building, would that
10
building lose the Trump name or the logo?
11 12
MR. RUSSOMANNO: Objection. A.
I mean, it's a very simplistic
13
question.
14
circumstances.
15 16 17 18 19
It depends under what
You mean if the building was successful? Q.
In any circumstance could it
lose it? A.
It depends.
It could lose it if
20
it had a mortgage and the bank took back
21
the building.
22
Q.
Let's think about all the
23
instances where that building could lose
24
the Trump name.
25
MR. RUSSOMANNO: I object to the
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2
form of the question.
3
Q.
If it loses that name, would, in
4
those instances, that decision rest with
5
you?
6
MR. RUSSOMANNO: I object to the
7
form of the question.
8
A.
9
Not in all instances, no. MS. BECK: Mr. Trump, I am told
10
that there's supposed to be a lunch
11
break today --
12 13
MR. GARTEN: Why don't we just keep going?
14
THE WITNESS: Why don't we just
15
finish it up and be done.
16
do that.
17 18
I'd rather
MR. RUSSOMANNO: Can we take a one-minute break for the restroom?
19
MS. BECK: Yes, of course.
20
going to say we take a five to
21
ten-minute break.
22
I was
THE WITNESS: You have to take a
23
one-minute break?
24
finish this?
25
one-minute break.
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Can we go on and
Let's not take a Your son can take
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D. J. Trump over.
3
MR. RUSSOMANNO: Let's go.
4
MS. BECK: Well, I have to go to
5
the bathroom.
6 7
THE WITNESS: So go to the bathroom.
8
MS. BECK: Off the record.
9
(Whereupon a break was taken at
10
12:31 p.m.)
11 12
(Whereupon the deposition resumed at 12:41 p.m.)
13
MS. BECK: Let the record reflect
14
Mr. Trump has left the room.
15
not clear whether he will return.
16
Herman Russomanno has indicated he
17
would like to state something on the
18
record.
19
It is Mr.
MR. RUSSOMANNO III: Let the
20
record reflect Herman Russomanno III
21
on behalf of Donald Trump and Trump
22
Organization.
23
Prior to a short recess, there
24
was an inquiry as to whether we can
25
complete the deposition.
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2
the plaintiffs initially indicated
3
that yes, they'll work through.
4
father asked for a bathroom break.
5
Counsel for Plaintiff agreed that she
6
would like a bathroom break.
7
My
We came back into the room and
8
counsel for the plaintiffs then made a
9
representation that she now needs a
10
one-hour break for medical conditions.
11
As all counsel in this room know,
12
there was never any objections
13
throughout the week for any medical
14
condition break and these medical
15
condition breaks every day up to today
16
took place at 2:30, 3:00.
17
deposition would have finished prior
18
to and counsel could have had the
19
medical condition.
This
20
The deposition was terminated,
21
as my father indicated on the record
22
earlier, pursuant to Federal Rule of
23
Civil Procedure 30(d)(3)(a).
24
Plaintiffs -- because of the annoying,
25
embarrassing, oppressiveness conduct,
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Should
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D. J. Trump
2
and bad faith by Plaintiff's counsel
3
in questioning, the deposition has
4
been terminated.
5
has a right to go back before the
6
court and get a court order to have
7
the deposition to be reconvened.
8
obviously the defendants will appear
9
and brief an opposition to that motion
10
Obviously counsel
And
should one be asserted.
11
Thank you.
12
MR. GILLMAN: Let me go on the
13
record to say that, as I said I would,
14
I was checking on whether or not Mr.
15
Schwarz could be available to conclude
16
or to go forward as Plaintiffs have
17
requested on Bayrock for the half hour
18
that you said that you indicated.
19
will be here Friday at 9:30.
20
MR. BECK: Thank you, Mr.
21
Gillman.
22
This is Jared Beck on behalf of all
23
Plaintiffs.
24 25
He
Thank you, Mr. Russomanno.
First to address Mr. Gillman, we appreciate that accommodation and we
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D. J. Trump
2
will take or continue with Bayrock's
3
deposition at the time indicated.
4
assume that's going to be before we
5
start the deposition of SB Hotel, I
6
believe it is?
7
I
MR. GILLMAN: I think the SB
8
Hotel is starting tomorrow.
You've
9
noticed the deposition of Mr. Stillman
10
individually and as SB and I've
11
advised that Mr. Stillman will be the
12
representative, the designee of it.
13
expect and understand that there would
14
be no intention to repeat questions
15
from one deposition to the other.
I
16
MR. BECK: Right.
17
MR. GILLMAN: Mr. Stillman, when
18
he answers on Thursday, tomorrow, will
19
be answering in both capacities.
20
Obviously to the extent that there's
21
something that doesn't get concluded,
22
we would carry over on Friday.
23
Is that agreed?
24
MR. BECK: Let me just say I
25
think maybe we'll be able to clarify
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2
this maybe more when the deposition
3
starts.
4
there's a distinction between the two,
5
there may be not, and maybe it's
6
better left tomorrow when we bring out
7
the deposition notice of SB Hotel and
8
we look at those topics and then maybe
9
you can restate that at that time and
There may be instances where
10
we can -- our intention certainly is
11
not to keep Mr. Stillman --
12
MR. GILLMAN: The standard
13
procedure, which I assumed we will
14
follow, is that Mr. Stillman will be
15
answering and I'm telling you he'll be
16
answering the questions as designee
17
and as individually.
18
particular question that you think
19
needs to be differentiated, we can do
20
it at the time.
If there's some
21
MR. BECK: I understand that and
22
we're going to do our best to respect
23
Mr. Stillman's time.
24
appreciate the accommodation on
25
Bayrock.
212-267-6868
And we do
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2 3
MR. RUSSOMANNO III: So Julius is going when, Bayrock?
4
MR. BECK: Friday.
5
MR. GILLMAN: He's unavailable
6
tomorrow.
7
MR. BECK: So I appreciate that.
8
Let me now turn to Mr.
9
Russomanno's statement.
10
We strenuously object that any
11
portion of this deposition was
12
harassing or intended to harass or
13
outside the boundary of what the
14
Federal Rules of Civil Procedure
15
provide and the transcript will be
16
quite clear on that.
17
to be for another date and time and I
18
don't think we need to sit here and
19
argue the merits of that now.
20
But that's going
As to the issue of Mr. Trump
21
apparently getting up and leaving the
22
room and his attorneys and him
23
terminating this deposition prior to
24
us getting in our entitlement under
25
the Federal Rules of Civil Procedure,
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2
I think we ended at, by my ,
3
12:30 and we began at approximately
4
10:30.
5 6
Is there any disagreement to that?
7
MR. RUSSOMANNO III: None.
We
8
were here for about two hours, I
9
agree.
10
MR. BECK: We were advised by the
11
law firm of Kramer Levin which we went
12
out of our way to actually shift the
13
deposition from the originally noticed
14
location -- at Mr. Trump's attorneys'
15
request we shifted the deposition to
16
this location at his request and
17
throughout this week we've been in
18
communication with representatives of
19
Kramer Levin law firm who have been
20
coordinating this deposition.
21
advised the Russomanno firm in
22
conjunction with the shifting of the
23
location to these offices, the Kramer
24
Levin offices where we're situated,
25
that Ms. Beck, who's also counsel for
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2
the plaintiff and was conducting --
3
counsel for the plaintiffs and was
4
conducting the deposition of Mr.
5
Trump, that she would require a break
6
during the deposition at some point to
7
take care of a medical condition.
8 9
Now, prior to today's -- and we have been taking those breaks and we
10
have been accommodated in that respect
11
throughout the week.
12
were accommodated in that respect
13
during the deposition of Mr. Schwarz
14
and on Tuesday we were accommodated in
15
that respect during the deposition,
16
corporate deposition, of The Trump
17
Organization.
18
So on Monday we
Prior to today's deposition, we
19
were sent e-mails indicating that
20
there was going to be a lunch break
21
during this deposition.
22
these e-mails by representatives of
23
the Kramer Levin law firm.
24
asked if we wanted to order anything
25
for lunch.
212-267-6868
We were sent
We were
We were notified that
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2
there were lunch reservations for five
3
people and based on those e-mails it
4
was our understanding that the
5
deponent had requested a lunch break
6
to commence at 12:30.
7
has requested that I produce those
8
e-mails to him.
9
certainly do so in advance of any
Mr. Russomanno
I will do so.
I'll
10
motion practice on this issue.
11
don't have them in any form that I can
12
produce them now; I have to go back
13
into my e-mails and get those.
14
But I
As such, Ms. Beck scheduled her
15
medical condition treatment around the
16
assumption that there was going to be
17
a break at 12:30 and prepared herself
18
this morning pursuant to what we
19
understood was going to be a break in
20
the deposition.
21
12:30, the break was requested through
22
Mr. Russomanno -- is it Senior?
23 24
When it came time to
MR. RUSSOMANNO III: That's fine, Senior.
25
MR. BECK: The elder Russomanno.
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2
We requested privacy -- the medical
3
condition is somewhat of a sensitive
4
issue.
5
have an open discussion about it with
6
Mr. Trump seated here.
7
want to reflect for the record that
8
Mr. Trump, from our perspective,
9
behaved in a quite insulting manner
Obviously we didn't want to
And I also
10
throughout the course of the
11
deposition, accusing of us not knowing
12
what we were doing, calling us crazy,
13
and so forth.
14
But be that as it may, we asked
15
Mr. Russomanno, the time having come
16
to 12:30, let's proceed to the break
17
that was scheduled, provided to us was
18
necessary pursuant to the medical
19
breaks we've been taking throughout
20
this week and Mr. Trump appeared to
21
get very animated, agitated, even more
22
hostile at that point, indicating that
23
he would under no circumstances allow
24
for a break of any kind even after he
25
was advised of the medical nature of
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2
it, even after he was advised that the
3
Kramer Levin law firm had previously
4
advised us of the necessity or the
5
scheduling, I should say, of a lunch
6
break at 12:30, in fact even had
7
solicited our reservations for lunch
8
this morning.
9
Ms. Merrill.
10 11
And I believe that was I just don't have --
MS. BECK: I believe she's a paralegal at the firm.
12
MR. BECK: The bottom line is
13
that Mr. Trump, from our viewpoint,
14
stormed out of this deposition at that
15
point in time.
16
completely unjustified manner.
17
was no basis for terminating this
18
deposition after just two hours of
19
testimony on extremely relevant
20
documents and we believe the record
21
will reflect that.
22
-- at one point he said we should just
23
come back to New York in two weeks.
24 25
He did so in a There
He actually asked
Be that as it may, we strenuously disagree with Mr. Trump's
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D. J. Trump
2
conduct in storming out of the
3
deposition.
4
with his lawyers' apparently advising
5
him to cease giving testimony, and we
6
believe this is grounds for sanctions.
7
We intend to file a motion for
8
sanctions with the court.
9
to file a motion to reopen the
We strenuously disagree
We intend
10
deposition.
11
recovery of our fees and costs for
12
doing so against Mr. Trump and The
13
Trump Organization, and we'll file
14
those motions when we get back to
15
Florida.
16 17
And I think that covers our position.
18 19
We intent to seek
Ms. Beck, is there anything that you can think of?
20
MS. BECK: I would just like to
21
state on the record that we will stay
22
here for the next hour.
23
Russomanno, if your client would
24
reconsider coming back and completing
25
the deposition, we remain willing to
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D. J. Trump
2
do so.
3
conference room for the next hour.
4
You can send me an e-mail or call me.
5
If you can let me know now, if would
6
be appreciated, but perhaps you would
7
like to reserve that option.
8
So we will stay in this
MR. BECK: I don't know the -- I
9
assume that Kramer Levin wouldn't have
10
a problem with us staying here for the
11
next hour under that representation.
12
Is that fair?
13
MR. RUSSOMANNO III: When you
14
guys are done, let me know.
15 16
MR. BECK: That was more of a question to you.
17 18
MR. RUSSOMANNO III: I don't think they'll care.
19
MS. BECK: Can you state for
20
certain whether or not your client
21
will come back today?
22 23
MR. RUSSOMANNO III: Are you guys done?
24 25
And then I'll go. In response, we'll let the
record speak for itself in of
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D. J. Trump
2
the deposition conduct in which the
3
deposition was terminated per the
4
federal rules.
5
As we all know in this room,
6
there was no e-mails exchanged between
7
my law firm, me, and the Beck and Lee
8
firm in regard to lunch today and in
9
regard to what time lunch was being
10
scheduled.
11
that we would take lunch at 12:30.
12
There was no notice prior to the
13
deposition starting that Ms. Lee
14
needed to take a break at 12:30 for
15
one hour.
16
reflect that.
17
There was no agreement
And we'll let the record
In of -- the only thing I
18
want to make clear is that you must
19
have only assumed that we had advised
20
Mr. Trump to leave because you don't
21
know that for a fact.
22
communications here on that.
23
deposition was terminated per the
24
federal rules.
25
There was no And the
The only other thing that I
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D. J. Trump
2
would add is that, since Mr. Beck made
3
a comment about the off-record conduct
4
or alleged conduct of Mr. Trump, the
5
record would also like to reflect that
6
it's the defendants' position that
7
there was improper conduct by Ms. Lee,
8
not Mr. Beck who I think is a complete
9
gentleman and a professional.
And I'm
10
not going to get into the details of
11
that --
12
MS. BECK: I would like to ask
13
you on the record what conduct you're
14
referring to.
15
MR. RUSSOMANNO III: If you
16
screaming back and forth with Mr.
17
Trump is the conduct that I'm
18
referring to --
19 20
MS. BECK: I disagree with your characterization of it.
21 22
MR. BECK: Now is not the time for argument.
23
MR. RUSSOMANNO III: I usually
24
don't reference to off-the-record
25
conduct, but because Mr. Beck did
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D. J. Trump
2
reference to the off-the-record
3
conduct of Trump, I wanted to mention
4
that.
So that's fair.
5
That's all I have to say.
6
MR. BECK: I apologize for
7
prolonging this, but I just have to
8
make one more comment since we delved
9
into the territory of off-record
10
conduct.
11
For the record, I typically
12
abide by your practice, Mr.
13
Russomanno, except in situations where
14
we're talking about a potential motion
15
to reopen the deposition.
16
to tell the judge why we believe the
17
deposition was terminated.
18
have to -- there may be indications of
19
why -- in the off-record conduct.
We may have
That may
20
MR. RUSSOMANNO III: I have no
21
problem with you putting off-record
22
conduct just as long as I've made my
23
comment, without getting into details
24
which I don't think it necessary.
25
MR. BECK: I'd just like to make
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D. J. Trump an amendment to that.
3
Yesterday at around 5:00, by my
4
approximation, we were asked to move
5
this deposition to the Trump
6
headquarters.
7
at Kramer Levin for quite some time.
8
And that request was given to us by
9
Alan Garten, who we understand to be
This had been noticed
10
Trump's in-house counsel.
11
ed in by Mr. Russomanno, the
12
younger, and the reason given by Mr.
13
Garten was that Mr. Trump had
14
appointments in the morning and for
15
that reason needed to be in his office
16
in order to proceed with the
17
deposition.
18
proposition to move the deposition.
19
We did not consent to that.
20
Garten seemed fairly agitated about
21
our refusal to move the deposition
22
that had long been noticed at Kramer
23
Levin.
24 25
It was
We disagreed with the
And Mr.
That said, I just want to make sure that those facts are reflected in
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D. J. Trump the record as well.
3
MR. RUSSOMANNO III: Well, if you
4
want to mention that, that was a moot
5
issue because the deposition took
6
place at Kramer Levin today at 10:30.
7
Mr. Trump was on time and he was here
8
and we're all here.
9
If you want to address that
10
issue, I don't see the need for it,
11
but if you want to we can let the
12
record reflect that the request to
13
move the deposition by Mr. Garten was
14
rejected by Plaintiff's counsel based
15
upon the fact that Bayrock's
16
deposition allegedly ended early,
17
which obviously had nothing to do with
18
Trump or Trump Org.
19
But I don't think we should
20
waste any more time on this issue
21
because it's a moot issue.
22
deposition was at Kramer Levin at
23
10:30, on time, and there was no
24
problem with that after we left.
25
The
MR. BECK: I just want to add a
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Page 151 1
D. J. Trump
2
couple of points because you say it's
3
a moot issue.
4
moot issue.
5
I don't think it's a
The reason I say that is, first
6
of all, the reason that the request
7
was rejected is because, after the
8
first day of deposition, it became
9
clear to us that our ability to take a
10
seven-hour deposition was going to be
11
somewhat a contested issue in this
12
case and I'll leave it at that.
13
That's why we rejected the request
14
yesterday.
15
simply wasn't convenient for us to
16
move the deposition.
17
noticed here and we are more
18
comfortable in not being in Mr.
19
Trump's offices and certainly after
20
his conduct today I will emphasize
21
that fact.
22
In addition, it just
It had been
That said, it became -- looking
23
back, putting those facts yesterday in
24
context, the facts today, it is our
25
opinion -- and we will bring this
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D. J. Trump
2
before the court -- that Mr. Trump had
3
no intention of sitting for a
4
seven-hour deposition today and we
5
believe that his terminating the
6
deposition after two hours is a
7
consequence of that.
8 9
MR. RUSSOMANNO III: Anybody else?
10 11
MR. GILLMAN: What time are we starting tomorrow?
12
MR. BECK: 10:00.
13
(TIME NOTED:
1:03 p.m.)
14
________________________ (Signature of witness)
15
Subscribed and sworn to
16
before me this_________
17
day of________________,
18
2011.
19
_______________________
20 21 22 23 24 25
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Page 153 1 2
*
*
*
3 4
I N D E X
5
WITNESS
EXAMINED BY
6
D. J. Trump
Ms. Beck
PAGE 4
7 8 9 10
E X H I B I T S PLAINTIFF'S
DESCRIPTION
PAGE
Exhibit 323 Document entitled
11
Re-Notice of Taking
12
Deposition
4
13
Exhibit 324 Copy of a newspaper
14
article
95
15
Exhibit 325 E-mail dated
16
May 13, 2009
17
Exhibit 326 Letter dated
18
June 2, 2009
19
Exhibit 327 E-mail dated
20
May 13, 2009
97
97
119
21 22
*
*
*
23 24 25
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Case 1:09-cv-21406-KMW Document 230-1 Entered on FLSD Docket 06/04/2012 Page 155 of 175 Page 155 1 2
ERRATA SHEET VERITEXT/NEW YORK REPORTING, LLC
3 4
CASE NAME: DATE OF DEPOSITION: WITNESS' NAME:
TRILOGY V. SB HOTEL November 16, 2011 DONALD J. TRUMP
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
PAGE/LINE(S)/ CHANGE REASON ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________ ____/_______/_________________/___________
________________________ WITNESS SUBSCRIBED AND SWORN TO BEFORE ME THIS______DAY OF_______________,2011. _______________________ NOTARY PUBLIC
24 25
MY COMMISSION EXPIRES__________________ * * *
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[& - adds] & & 1:18 2:3,9,16 0 000179 95:23 0003086 97:17 0003097 97:21 09-21406 1:9 1 10022 3:6 10:00 152:12 10:30 139:4 150:6 150:23 10:31 1:11 1177 1:18 119 153:20 124 28:22 128 28:22 129 28:22 12:21 122:9,11 12:30 139:3 141:6 141:17,21 142:16 143:6 146:11,14 12:31 133:10 12:41 133:12 13 97:14 120:2 153:16,20 130 28:22 133 37:7 47:10 142 5:2 7:20 143 5:2 18:6 19:7 15 47:6 60:5 150 2:18 1500 2:12 1533 45:25 1535 47:21 16 1:11 155:4 168 109:9 110:22 169 78:21 81:3 93:15 94:9 176 78:21 82:10 93:14 180 95:23
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181 78:21 86:20 93:14 182 78:21 93:14 183 78:21 89:25 184 78:22 91:15 93:14 186 78:22 91:23 1970s 6:3 198 50:18 56:17 70:4,8 199 50:18 1:03 152:13 1tril 95:23 2 2 97:24 109:7 153:18 200 50:18 56:11 97:6 2000 113:5,6 2004 69:18 2006 47:6 60:5 2009 97:14,24 113:7 120:2 153:16,18,20 201 2:12 69:14 70:19 2011 1:11 152:18 154:24 155:4,22 202 60:23 203 65:25 204 66:23 205 66:23 214 71:24 73:18 215 71:24 72:9 73:19 24 69:23 243 45:6 244 48:11 50:8 245 57:22 61:23 248 74:9 75:4,6 249 74:9 75:4 76:10 77:8 2:30 134:16
3 3 30:13 134:23 30 30:13 69:18 134:23 30.1 31:2 301 121:15 302 121:16 304 121:16 305 2:5,13,19 121:16 306 121:16 127:2 307 121:16 123:3 3087 97:17 3100 97:21 311 121:16 129:13 312 121:16 129:13 313 121:16 129:13 314 121:17 129:13 323 4:8,11 153:10 324 95:17,20 153:13 325 97:12,15 98:19 153:15 326 97:20,25 98:4 109:3 153:17 327 119:24 120:3 153:19 33130 2:5,18 33131 2:13 358-6300 2:13 373-2101 2:19 3:00 134:16 4 4 153:6,12 5 5 31:2 5:00 149:3 6 66 2:4 7 725 3:5 11:16,18 789-0072 2:5
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9 95 153:14 960,000 43:24 97 153:16,18 9:30 135:19 a a.m. 1:11 abide 148:12 ability 151:9 able 8:2 43:16 107:22 126:12 127:19 136:25 abreast 114:22,23 115:2,3 absent 31:6 absolutely 105:4 106:17 123:9 125:4 125:6 accommodated 140:10,12,14 accommodation 135:25 137:24 139:2 ant 43:10,11 44:7,9 45:4 ants 39:9 91:13 accurate 19:15 122:17 accusing 142:11 act 30:6 32:4,12 action 154:18 actual 33:15 ad 124:6 126:2 add 96:12 147:2 150:25 adding 96:5 addition 151:14 additional 56:23 address 135:24 150:9 addressed 90:6 adds 96:6,20
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[it - bank] it 7:13 advance 7:2 141:9 ments 126:5 advertising 42:24 123:8,22 124:9,11 127:5 128:9 advised 136:11 139:10,21 142:25 143:2,4 146:19 advising 144:4 d 87:17,22 87:24 s 43:18 44:14 102:12 114:21 116:9 aforesaid 154:8 agitated 142:21 149:20 ago 13:22 36:4 37:6 agree 97:8 99:2 126:4 139:9 agreed 134:5 136:23 agreement 26:9 27:18 37:14 38:10 38:17,24 47:8,13 48:17 49:5,9,11,16 49:20,21 50:23 51:5 51:11,16 52:6,16 54:12,14,23 57:6 59:21 60:4 61:4 62:5,16 63:15 66:3 66:15,19,21 67:13 67:22 68:3 69:3,17 69:25 70:3,17,19 71:2 80:8,11,13,14 80:15 81:7,8 83:18 84:14 86:10,12 91:21 99:14,16,20 101:13 120:11,14 146:10 agreements 44:21 50:16 57:2 90:12 125:24
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ahead 22:24 28:23 45:7 53:18 70:15 86:21 90:2 98:8 115:15 122:5 125:15 al 1:4,7 alan 3:7 149:9 alert 105:22 alleged 147:4 allegedly 150:16 allen 43:12 allow 142:23 amended 32:25 66:22 amendment 54:14 56:15 149:2 amendments 51:4 51:16 70:9,17 americas 1:19 amount 42:2 43:24 44:2 106:2 107:3 108:6,17 109:7 animated 142:21 annoying 134:24 annoys 30:19 annual 17:10 answered 78:16 110:24 111:3 answering 136:19 137:15,16 answers 136:18 anticipate 10:13,19 anticipated 106:11 anticipates 10:18 anybody 10:17 58:12 152:8 anyway 82:8 apartments 107:5 apologize 148:6 apparently 138:21 144:4 appear 135:8 appeared 142:20 applicable 57:6
appointments 149:14 appreciate 135:25 137:24 138:7 appreciated 145:6 approval 9:11 29:10 111:14 121:22 122:2 approve 29:18 33:9 approved 122:3 approximately 139:3 approximation 149:4 area 10:4 105:19 argue 138:19 argument 147:22 arif 14:8 15:9,13,20 arizona 108:9 article 7:19 9:18 20:4,17,22 95:19 96:2,17 153:14 articles 5:6 artistic 36:5 asked 31:14 54:24 59:10 63:8,18 78:15 94:23 134:4 140:24 142:14 143:21 149:4 asking 22:19,19 44:22 46:21 47:4,11 58:22 asserted 135:10 associated 41:2 57:15 106:9 associates 1:7 2:10 62:6 63:25 64:8,16 66:7 80:24 81:9 86:23 92:14,19 100:9 113:11 123:25 assume 54:4 58:17 68:8,11,12 136:4 145:9
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assumed 38:23 137:13 146:19 assumption 141:16 attention 52:4 56:11 61:23 96:16 attorney 7:8 82:23 attorneys 2:4,10,17 40:15 55:8 57:19 61:15 83:22 138:22 139:14 audience 36:14 authentically 56:3 authenticated 55:24 56:6 authorities 118:21 available 108:24 135:15 avenue 1:18 3:5 11:16,18 aware 77:13 103:6 109:5,8 119:16 b b 2:14 41:25 43:25 52:5 153:8 back 52:15 66:24 67:4,5 108:5,5,5,21 108:24 115:17,20 126:22,23 131:5,20 134:7 135:5 141:12 143:23 144:14,24 145:21 147:16 151:23 background 5:17,18 6:16 7:5 19:12 20:11 backwards 62:2 bad 13:6 30:18 83:24 105:7,8,9,10 106:25 135:2 bank 46:7 48:23 49:4,12,16,25,25 50:5 59:10,11,11,12 60:7,13 63:8,14,17 80:17,20 81:6,12,20 516-608-2400
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[bank - case] 81:25 82:5,8 98:24 100:2,21,23 101:2,4 101:17 102:3,9,13 103:5,6,11,16,17,23 103:24 106:21 130:10,12,20,20 131:5,20 bank's 130:14 banks 50:16 63:15 bar 83:4 based 17:11,12,14 32:24 141:3 150:14 basically 52:24 58:4 60:6 74:16 76:23 105:13 112:20 basics 73:7 83:6 basis 143:17 bates 55:4,10 95:22 97:16,20 bathroom 133:5,7 134:4,6 bay 95:23 bayrock 2:11 10:20 11:2 12:2 13:18,24 14:10,12,16,25 16:13,14,17 18:20 18:21 20:2,21,23 25:11,18 34:20,22 35:7,17,24 36:7,12 36:25 37:15 38:10 47:4,8,13 50:24 65:6,6,12 67:7 68:14 69:8 74:17,19 74:23,25 75:3 89:10 135:17 137:25 138:3 bayrock's 136:2 150:15 beautiful 12:16 73:5 75:17 106:16,17 118:12,18 119:14 123:10 126:10,11 beautifully 128:15 beck 2:3,6,7 4:7,8 6:18,23 23:24,25 212-267-6868
30:3 31:22 32:6 33:2 45:10,19 61:21 70:14 80:5 95:17,22 97:11,16 115:17 119:24 121:9 122:6 132:9,19 133:4,8,13 135:20,22 136:16 136:24 137:21 138:4,7 139:10,25 141:14,25 143:10 143:12 144:18,20 145:8,15,19 146:7 147:2,8,12,19,21,25 148:6,25 150:25 152:12 153:6 beckandlee.com 2:7 2:8 becoming 68:14 began 139:3 beginning 87:10 90:13 behalf 47:17 63:5 133:21 135:22 behaved 142:9 belief 14:23 63:17 64:18 65:19 84:7 believe 10:2,5 13:25 14:8 16:14,25 25:18 27:14,15,17,24 29:2 38:5 41:19,21 46:17 49:22,22 51:21 55:21 62:13 64:17 64:23,25 76:14 92:11 95:4,11 99:22 111:12 113:13,17 126:9 136:6 143:8 143:10,20 144:6 148:16 152:5 best 137:22 better 53:2 114:17 137:6 beverage 72:11 big 15:6 103:24 bio 6:17,19,21,22 7:7
biography 7:10 biscayne 2:12 bit 5:16 9:23 14:13 32:18 85:15 105:20 black 109:14 blood 154:18 borrello 2:16 bottom 55:4 56:13 96:18 109:17,22 143:12 bought 68:12 107:5 119:7,8 120:23 boulevard 2:12 boundary 138:13 bowen 2:9 brand 86:11 breach 83:17 break 23:2,4 132:11 132:18,21,23,25 133:9 134:4,6,10,14 140:5,20 141:5,17 141:19,21 142:16 142:24 143:6 146:14 breaks 134:15 140:9 142:19 brick 42:19 bricks 23:11 brief 135:9 bring 137:6 151:25 brochures 72:24 broken 14:15 brokerage 96:20 build 21:7 24:23,25 69:3 129:22 building 11:9,15,23 12:7,8,16,17 16:5,8 16:9,11 21:6,7,8,9 21:12,13,16,25,25 22:3 23:9,9,11 24:23,25 25:7 26:2 26:11 28:13 33:14 33:16,22,23 34:6,7 34:8 35:18,18 53:2 68:20 69:8,9 84:5,8
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[cases - continuation] cases 59:4 97:3 105:12 123:20,21 cause 98:24 120:8 ccvprod 97:17,21 cease 144:5 center 2:12 central 28:11 certain 80:7 85:19 90:22 110:15 116:10 145:20 certainly 15:3,5 28:9 32:16 44:18 69:5 116:20 121:6 137:10 141:9 151:19 certificate 58:3,7,18 58:21 63:18 118:20 119:2,5,17,20 certificates 57:24 58:17 59:3,14 60:14 62:25 63:3 101:25 102:5,11 certification 154:2 certify 154:5,16 cessation 98:25 cetera 27:9 42:20 58:14,14 59:20,20 chain 76:22 120:5 change 60:9 155:5 changed 75:18 changes 75:11 characterization 147:20 charge 96:22 check 12:19 17:13 17:18 19:12 checking 135:14 chicago 27:25 28:10 children 40:10 choice 82:5 84:3,6 102:3 circumstance 131:17 circumstances 131:14 142:23 212-267-6868
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companies 13:24 27:11 71:4 87:17,22 87:24 109:15 company 6:7 17:25 21:5,5 24:12 38:5 43:14 58:12,19 62:14,17 63:20 64:4 64:5 65:10 66:4,13 72:20 73:13,25 74:6 77:11 78:5,9,13 79:2,8,14,17,22,23 80:23 87:20 88:9,10 89:8,15,22 90:11,24 106:22 109:16 compared 107:19 108:6 compensation 41:25 complaint 32:25 complete 6:22 83:3 84:9 110:14 126:12 127:20 133:25 147:8 completed 12:17 84:6,16 106:23 110:6,7,10,12 116:4 116:7,18,19 117:23 118:17 127:18 128:16 129:18,24 completely 143:16 completing 22:3 144:24 completion 83:17 116:15 118:5,9 120:7 component 53:13 concern 106:7,14 concerned 108:25 118:10 conclude 135:15 concluded 136:21 concrete 22:2 23:11 24:12,13,18 42:19 condition 60:14 110:14 134:14,15 134:19 140:7
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141:15 142:3 conditions 106:4 110:2 134:10 condo 13:12 condominium 16:9 96:22 113:16 conduct 134:25 144:2 146:2 147:3,4 147:7,13,17,25 148:3,10,19,22 151:20 conducted 30:17 conducting 140:2,4 conference 145:3 confidential 109:22 congratulate 106:5 conjunction 34:20 97:18 139:22 connection 18:23 25:12 26:17 104:5,7 consent 149:19 consequence 152:7 consider 23:12 considerably 106:10 considering 35:8 consistent 124:23 128:21 constitute 83:17 constructing 21:16 construction 21:17 25:7 27:7 36:23 41:2 42:4,18 77:10 77:24 78:5,8,13 83:3 109:6 119:20 contained 7:15 126:5 contains 7:9 contemplating 68:14,19 69:8 content 87:3 contents 93:15 contested 151:11 context 151:24 continuation 91:17 91:25 516-608-2400
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[continue - deposition] continue 20:18 136:2 continued 3:2 contract 13:3 48:23 contractor 23:13,16 contractors 22:7 contradict 124:16 129:7 contradiction 124:19 contradicts 129:12 control 25:8 39:3 79:17,23 100:10,14 100:17,20 102:18 102:21 controversy 154:20 convenient 151:15 conversation 87:4 99:18 conversations 99:23 coordinating 139:20 copied 80:18 copies 98:5 copy 37:4 45:18 82:2 95:18 153:13 copying 81:20 corporate 140:16 correct 7:11 21:3,4 25:2 26:10,13,14 40:2,3 47:24 51:2,3 64:17 69:10,13,19 81:10 82:12 91:19 96:7 118:3 130:24 correspondence 80:18 91:18 92:2 111:20 corus 46:7 49:25 50:5 59:11 80:20 81:6,12 100:22 102:13 103:6,11,16 106:21 cost 43:3 costs 40:25 42:4,17 42:18,21,22,23 43:6 57:4 144:11 212-267-6868
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[deposition - entails] 137:7 138:11,23 139:13,15,20 140:4 140:6,13,15,16,18 140:21 141:20 142:11 143:14,18 144:3,10,25 146:2,3 146:13,23 148:15 148:17 149:5,17,18 149:21 150:5,13,16 150:22 151:8,10,16 152:4,6 153:12 155:4 depositions 5:19 32:11 depreciated 105:14 105:18,20 depreciation 107:13 107:20 describe 28:4 description 153:9 designee 136:12 137:16 destination 123:5 destructive 81:21 82:3 detail 72:4 129:5 details 73:8 147:10 148:23 determine 93:3,10 determines 72:14 75:23 develop 11:9 16:10 68:6 74:11,16 77:21 77:22 78:4 developed 16:11,17 22:11 35:14 74:22 74:24 123:18,20 130:5,12,18 131:4,7 developer 10:24 11:6,6 14:4,5,12 16:15 20:24,25 22:8 22:9 23:12,12,16 24:7,18,22 25:19 33:20 34:10,13,18 35:8,19 58:17 64:9 212-267-6868
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Case 1:09-cv-21406-KMW Document 230-1 Entered on FLSD Docket 06/04/2012 Page 162 of 175 Page 7
[enter - form] enter 8:20 38:9 47:7 47:12 67:19,21 86:9 entered 11:25 13:3,5 13:8,10 46:23,25 47:20,23 52:16 61:19 62:5,16 63:2 69:6 90:12 enters 39:21 entire 54:23 entities 8:21 10:12 16:12,16 39:21 41:8 61:17 63:10 entitled 4:9 84:24 85:21 107:25 153:10 entitlement 138:24 entity 29:4 61:20 71:4 88:24 92:16,24 93:4,4,9,11 equal 42:3 56:24 eric 40:8 errata 155:2 esq 2:6,7,14,20,21 3:7 essentially 59:18 estate 5:18,22,25 6:4 6:10 96:19 104:2 estimated 96:20 estoppel 57:23 58:6 58:16,18,21 59:2,13 60:7,13,22 62:25 63:3,18 101:24 102:5,10 estoppels 63:13 et 1:4,7 27:8 42:19 58:14,14 59:20,20 eugene 8:5,11,14 everybody 102:2 105:23 116:21,23 125:25 127:14 128:3,11,11,12 everything's 60:8 evidence 7:13 exactly 52:24
212-267-6868
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Case 1:09-cv-21406-KMW Document 230-1 Entered on FLSD Docket 06/04/2012 Page 163 of 175 Page 8
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[j - licensed] 94:1 95:1 96:1 97:1 98:1 99:1 100:1 101:1 102:1 103:1 104:1 105:1 106:1 107:1 108:1 109:1 110:1 111:1 112:1 113:1 114:1 115:1 116:1 117:1 118:1 119:1 120:1 121:1 122:1 123:1,4 124:1 124:23,24 125:1 126:1 127:1 128:1 129:1 130:1 131:1 132:1 133:1 134:1 135:1 136:1 137:1 138:1 139:1 140:1 141:1 142:1 143:1 144:1 145:1 146:1 147:1 148:1 149:1 150:1 151:1 152:1 153:6 155:4 jared 2:7,8 135:22 jim 72:18 73:9 job 13:7,9 67:5 68:6 68:7,9,20 77:22 78:4,11 87:6 100:15 ed 149:11 t 8:4,20 judge 31:20 32:5,13 148:16 julius 14:19,20,21 14:22,24 15:5 138:2 june 69:18 97:24 153:18 junior 5:15 41:12,20 51:20,22 75:10 76:2 justified 100:7 k keep 132:13 137:11 kessler 8:6,12,15,15 kidding 21:20,22 kind 6:13 31:14 58:12 59:5 142:24 212-267-6868
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material 123:23 materials 121:10 122:13 124:10,12 126:6,17,18 matter 30:18 154:20 mean 9:7 15:4 16:2 26:25 41:18 42:9,13 47:19,21 80:2 91:5 93:20,22 95:9 99:22 109:19 112:13 114:14 115:3 117:8 131:12,15 meaning 90:23 medical 134:10,13 134:14,19 140:7 141:15 142:2,18,25 meet 85:18,19 meeting 27:19 28:15 meets 28:13 member 41:25 43:25 mention 129:14 148:3 150:4 mentioned 11:24 13:10 15:23 20:23 23:10 102:17 103:25 108:18 117:22 merits 138:19 merrill 143:9 merrimac 37:15 50:24 met 15:20 67:4 82:20 miami 2:5,12,13,18 105:19 middle 96:18 mildly 85:16 million 109:7 minute 94:10 132:18,21,23,25 minutes 78:19 monday 140:11 money 41:14 44:12 44:17,19,24 49:25 516-608-2400
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[money - okay] 60:15 63:16,19 105:3 106:2 107:4,9 107:14,18 108:3,4 108:17,18,21,22,24 112:2,10 113:2 moneys 43:17 moot 150:4,21 151:3 151:4 morning 141:18 143:8 149:14 mortar 42:19 mortgage 131:20 motion 30:3,7 31:16 31:25 135:9 141:10 144:7,9 148:14 motions 144:14 motwanis 38:11 move 30:15 32:8 55:2 149:4,18,21 150:13 151:16 moved 31:22 multiple 5:18 n n 2:2 3:2 4:2 153:4 naftalis 1:18 name 14:9 16:6,10 18:9 25:17 26:3,7,8 29:5 50:25 84:14,25 85:3,22 92:16,23 96:6,20 106:8 129:25 130:5,13,21 131:10,24 132:3 155:3,4 named 5:11 names 8:17,18 nature 142:25 necessary 142:18 148:24 necessity 143:4 need 23:2,4 32:19 119:2,3 138:18 150:10 needed 118:15 119:11,13,14,14,21 212-267-6868
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118:6,22 120:16,21 121:23 122:19,25 124:17 125:2,21 126:7,20 127:11,24 128:5,23 129:9,20 130:8,16,25 131:25 132:6 138:10 objecting 30:21 objection 8:7 15:2 18:24 19:17 20:13 23:22 24:19 27:21 28:6,17 36:9 38:7 40:4 44:15 47:25 48:5 49:13 50:2 64:6 78:14 79:24 80:3 82:21 92:21 102:24 114:9 117:24 118:24 131:11 objections 134:12 obtain 30:23 obtained 119:17 obtaining 118:20 obviously 36:5 45:9 74:24 84:20 121:4 129:4 135:4,8 136:20 142:4 150:17 occasion 48:8 occupancy 117:15 118:20 119:3,5,17 119:20 occupy 117:4,10 oceanfront 127:16 october 69:23 offer 74:18 offering 127:17 office 149:15 offices 1:17 139:23 139:24 151:19 oh 16:20 104:20 okay 5:5 7:17,22 9:13,17 10:6 11:19 12:15 13:2 19:5 20:16 25:22 26:22 516-608-2400
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[okay - points] 29:8 33:7 38:21 45:21 46:8 47:15 48:12 50:19 51:8 52:7,9 53:15 55:9 58:4,15,24 59:15 60:12,24 66:2,12 67:18 69:15 74:21 76:9,17 78:10,23,24 79:10,15 81:4 82:14 87:2 90:10 93:2 98:17 109:24 111:9 115:6,14 121:13,18 122:15 128:17 olas 9:19 10:13 old 33:16 once 7:13 40:14 96:20 open 99:12 106:15 110:3 113:14 114:7 142:5 opening 61:9 110:16 110:23 operate 118:15 operating 37:14 57:3 116:6 operation 113:14 114:6 119:11 opinion 105:5 113:22,23 114:2,5 114:18 151:25 opposition 135:9 oppresses 30:20 oppressiveness 134:25 option 145:7 order 30:23 55:2 135:6 140:24 149:16 org 150:18 organization 2:17 3:5 6:8 8:5,19 9:4,6 9:7,10 11:21,25 13:17 14:17 16:19 17:2,5 21:2 26:5,17 29:5 35:7 39:3,19 212-267-6868
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perspective 142:8 petrus 72:18 73:9,12 73:22,23,24 74:6 76:3 87:13 90:25 122:2 phoenix 12:22,23 13:4 phrase 91:10 picture 34:8 picture's 36:4 pictures 29:24 31:15 126:2 piece 107:21 128:9 place 106:19,20 110:3 124:14 134:16 150:6 154:8 placed 69:17 98:21 99:7 109:6 places 108:8 plaintiff 134:5 140:2 plaintiff's 4:11 5:2 7:19 18:5 19:6 47:10 50:8 56:11,16 61:23 70:19 76:10 77:7 81:2 89:25 95:20 97:14,19,24 98:19 109:2,9 110:22 120:2 127:2 135:2 150:14 153:9 plaintiffs 1:5,16 2:4 134:2,8,24 135:16 135:23 140:3 plan 76:6,6 plans 75:12 103:4 player 50:15 please 22:14 81:3 98:20 115:18 pleasure 128:20 plummeted 106:7 point 35:6 47:4 73:16 85:9 129:19 140:6 142:22 143:15,22 points 151:2
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212-267-6868
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516-608-2400
Case 1:09-cv-21406-KMW Document 230-1 Entered on FLSD Docket 06/04/2012 Page 170 of 175 Page 15
[receive - russomanno] receive 41:25 received 54:9 56:25 recess 133:23 recollect 46:15 71:14 80:9 recollection 77:25 reconsider 144:24 reconvened 135:7 record 22:16 30:10 45:13 121:15 122:6 122:8 133:8,13,18 133:20 134:21 135:13 142:7 143:20 144:21 145:25 146:15 147:3,5,13,24 148:2 148:9,11,19,21 150:2,12 154:14 records 12:20 recovery 144:11 redacted 109:20 reduced 71:18 74:8 reference 27:17 47:5 147:24 148:2 referenced 27:15 47:22 104:2 references 69:24 117:10 referencing 19:20 20:5 70:20 102:20 referring 99:6 122:23 147:14,18 reflect 133:13,20 142:7 143:21 146:16 147:5 150:12 reflected 149:25 refusal 149:21 regard 146:8,9 regarding 99:19 regular 32:10 rejected 150:14 151:7,13 related 32:15 154:17 212-267-6868
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rooms 16:22 17:17 17:18,21 22:3 53:20 53:22,23 57:14,16 119:4,7 roy 2:11 33:19 64:2 65:9,18 66:25 67:3 79:23 91:18 92:7 98:11 rule 30:12 31:2 134:22 rules 32:10 138:14 138:25 146:4,24 ruling 31:20 run 35:3 running 119:4,11 128:14 russomanno 2:16,20 2:21 5:23 8:7,22 10:15 11:3 12:5 13:19 15:15 16:3,23 17:7 18:3,12,16,19 18:24 19:17 20:7,13 20:19 21:14,19 23:18 24:14,20 25:4 25:13 26:19 27:2,21 28:2,6,18 29:11,19 29:25 30:5 31:24 32:8,9 33:10 34:3 34:16 35:25 36:9,15 36:22 37:10 38:7 39:6,11 40:4 41:4 41:16 42:6,10,14 43:7 44:4,15 46:9 46:12 48:5,20,25 49:13 50:2,11 51:12 52:2,13,21 53:10 54:2,15 55:14,20 56:4,18 57:9,17,25 58:8 59:6,16,24 60:16 61:2,6,12 62:11,20 63:11,22 64:13,19 65:21 66:9 66:17 67:23 68:16 69:11 70:10,23 71:6 71:19 72:16 74:13 516-608-2400
Case 1:09-cv-21406-KMW Document 230-1 Entered on FLSD Docket 06/04/2012 Page 171 of 175 Page 16
[russomanno - situation] 75:13 77:3,19 78:6 78:14 80:3 81:14,22 83:9,19,25 84:10 85:23 86:4,14 88:2 89:5,18 90:17 91:8 93:6,18 95:7,14 98:6 99:4 100:11 101:5,8,18 102:6,14 102:22 103:12 105:15 106:12 107:16 110:4,17 111:3,16,21 112:23 113:20,24 114:11 114:24 115:9,23 116:12 117:6,16,24 118:6,22 120:16,21 121:23 122:19,25 124:17 125:2,9,21 126:7,20 127:11,24 128:5,23 129:9,20 130:8,16,25 131:11 131:25 132:6,17 133:3,16,19,20 135:21 138:2 139:7 139:21 141:6,22,23 141:25 142:15 144:23 145:13,17 145:22 147:15,23 148:13,20 149:11 150:3 152:8 russomanno's 138:9 russomanno.com 2:20,21 s s 2:2 3:2 153:8 155:5 sales 24:5 115:22 sanction 9:11 sanctions 144:6,8 sapir 16:18,18 20:24 25:12,19,20 sater 18:10 20:4,18 sater's 19:10 satisfied 59:19 60:10 212-267-6868
satter 18:10 saved 105:3,25 112:17,25 saw 76:19 saying 19:11 32:2 46:22 59:22 88:21 99:23 112:21 says 19:8 40:20 42:15 43:23 52:8 53:12 54:12 56:14 56:23 83:2 96:19 98:20 109:17,21 110:23 sb 1:7 2:10 62:5 63:25 64:8,16 66:7 80:2,5,24 81:9 86:23 92:7,10,11,14 92:18,25 94:7 100:9 111:24 113:10 114:13 123:24 136:5,7,10 137:7 155:3 scale 11:6 scared 112:22 schedule 41:21 scheduled 141:14 142:17 146:10 scheduling 143:5 schwarz 14:21,24 15:14 120:5 135:15 140:13 screaming 147:16 se 128:13 seabreeze 7:23 8:3 seated 142:6 second 19:8 32:24 96:17 110:22 113:9 122:7 section 54:10 sections 109:20 securing 73:10 see 4:16 7:18 33:12 35:11 37:2,21 46:19 60:2 76:6,20,22,23 77:6 93:22 98:4
100:4 111:10 114:23 120:9 124:19 150:10 seeing 116:20 seek 144:10 seen 4:13 6:18,24 28:24 31:13 37:8 50:20 71:25 72:3,5 75:5,6 76:12,15 98:10 109:2,10,12 109:19 110:25 111:4 112:4 121:19 select 123:6 sell 21:7 34:22 52:20 selling 21:9 24:4,6 send 79:13 82:7 84:20,20 145:4 sending 99:20 112:6 senior 141:22,24 sensitive 142:3 sent 46:22 79:7 82:18 87:11 92:5 94:4,18 95:2 99:14 102:4 111:19 118:2 121:2,4 140:19,21 separate 88:24 separately 25:20 service 68:6 111:24 services 42:2 67:13 67:22 68:3 69:2,17 set 28:14 154:23 setting 27:18 seven 151:10 152:4 seventy 108:12 sgillman 2:15 shape 75:17 119:22 share 56:25 sheet 155:2 shift 139:12 shifted 139:15 shifting 139:22 short 125:25 133:23 shot 98:21 show 122:18,23 125:8
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showed 122:13 showing 82:9 shows 69:7 shutts 2:9 shutts.com 2:15 side 40:18 sign 37:22,24 48:13 49:24 50:16 58:6,19 58:21 59:2,10 61:5 63:7,10,18 signature 27:25 28:5 37:17,21 45:23 46:19 48:7 55:11,12 56:3,8 123:4,12,14 123:18,23 124:22 126:9 127:7 152:14 signatures 48:9 signed 46:11 47:17 48:2 50:8 58:11 59:14 60:14 63:2,3 95:3 101:25 121:8 124:13 125:4,25 126:14 127:14 128:3,11,22 129:4,8 g 46:3,15 59:21 71:8 signs 58:16,18 102:2 similar 27:11 simple 47:11 99:12 124:20 simplistic 131:12 simply 151:15 sir 27:13 29:14 33:2 53:17 54:6 70:14 94:4 sit 41:24 107:20 111:18 138:18 site 65:9,13 77:16 89:10,13 92:24 93:5 123:10 125:6 sitting 29:17 33:8 152:3 situated 139:24 situation 83:24 108:20 516-608-2400
Case 1:09-cv-21406-KMW Document 230-1 Entered on FLSD Docket 06/04/2012 Page 172 of 175 Page 17
[situations - taken] situations 148:13 six 37:19 94:11,12 sixty 94:16 108:12 size 75:17 small 10:4 124:6 soft 40:25 42:4,21 43:3,6 soho 12:14,20 13:11 13:14 15:23,25 16:7 16:22 17:3,21 18:23 20:24,25 21:3,9 25:12,24 26:5,18 91:11 sold 65:17 solicited 73:3 143:7 somebody 39:25 47:17 74:15 88:11 94:23 somewhat 81:20,21 142:3 151:11 son 5:10,14 41:12,19 41:19,22 51:18,21 57:20 71:21 75:11 132:25 soon 20:22 sorry 22:21 54:20 sound 9:21 10:21 27:7 78:2 sounds 54:18,21 57:11 60:21 70:21 south 2:12 southern 1:2 30:25 speak 15:8,13 18:14 18:18,22 64:25 68:25 75:2 82:23 100:20 112:7 145:25 speaking 15:14 28:19 60:19 86:22 104:9 specifications 103:4 split 91:5,6,11,14 spoke 68:13 spoken 18:9 74:25
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square 52:18 53:7 96:14 staff 87:12,14 88:19 stamp 37:23 stamped 55:4,10 95:22 97:16 stand 127:9,13,22 128:2,9 standard 27:3,4,5,9 27:10,19 28:13 50:6 50:14,15 63:14,15 75:25 76:8 77:6 81:25 82:16 85:19 91:10 102:2,9 117:2 119:8,9,10 120:23 121:7,7 123:7 137:12 standards 26:24,25 27:20 28:16 71:13 71:16,17 72:7,10,23 73:11,14,17 74:5,7 75:20,21 82:19 83:6 85:13,20 110:9,11 116:18,22 start 5:21 6:4 61:21 86:3 94:25 136:5 started 5:25 6:10 94:13 starting 136:8 146:13 152:11 starts 128:19 137:3 state 1:20 4:4 112:15 123:23 133:17 144:21 145:19 154:5 stated 125:24 statement 31:6 103:10 114:6 124:22 138:9 statements 20:3,9 124:16 127:9,22 128:2,10,18 states 1:2 105:11 108:10 113:11 120:6 123:3
stating 112:3,4,7,14 113:22 stay 114:21 115:2,3 144:21 145:2 staying 145:10 stenographically 154:12 stephen 2:14 stiles 77:10,23 109:5 stillman 2:11 33:19 33:19 34:10,12,25 36:18 37:15 38:10 46:18,23,25 47:7,12 47:16 64:2,3 65:18 66:25 67:3 68:10,21 68:24 74:18 79:14 82:11 89:9,12 90:4 91:2,18 92:7,11,12 98:12,19 99:19 100:9,10,23,25 101:13,22 102:5 103:22 106:22 111:23 113:10 114:14 117:12 120:6 136:9,11,17 137:11,14 stillman's 65:10 78:25 79:8,23 89:8 102:18 103:16 137:23 stipulate 6:15,21,23 7:14 55:18 stipulated 55:21 stipulation 23:22 stopped 100:2 stormed 143:14 storming 144:2 story 19:23 straight 26:6 street 2:4,18 strenuously 138:10 143:25 144:3 strike 30:2 31:23 stuart 8:6,11,15
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stuff 77:6 stupid 22:18,20,22 stymie 49:12 stymied 49:8 subcontractors 22:5 22:7 subordinate 48:22 subordination 48:17 49:18 50:16 subscribed 152:15 155:21 substantial 96:25 substantially 112:11 113:4,8 successful 131:16 superseded 67:15 supervise 25:6 supervision 154:13 supposed 40:24 132:10 sure 5:17 12:19 17:13 27:18 37:5 38:13 39:15 75:16 76:24 90:20 116:2 116:10 120:25 129:23 149:25 surprise 41:23 surprised 19:9 suspend 32:2 suspended 30:23 sworn 4:3 152:15 154:9 155:21 t t 4:2 153:8 tack 97:6 take 5:3 37:12 38:19 40:15 45:14 126:22 130:13,22 132:17 132:20,22,24,25 136:2 140:7 146:11 146:14 151:9 taken 1:16 131:4 133:9 154:11
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Case 1:09-cv-21406-KMW Document 230-1 Entered on FLSD Docket 06/04/2012 Page 173 of 175 Page 18
[takes - trump] takes 45:7 talk 5:6,16 9:23 14:18 92:6 talked 5:17 8:14 23:10 71:12 talking 5:8 12:8 14:8 15:17 16:13 47:9 49:20 61:8 79:16 85:4 88:7,8 88:13,15,16,18 92:10 131:3,6 148:14 talks 9:18 82:15 99:7 112:15,16 team 50:15 technicalities 54:19 54:22 tell 26:23 31:19 35:10 44:7 45:8 55:6 104:16 111:5 148:16 telling 137:15 ten 132:21 tenant 11:11,13,17 11:20,22 terminate 30:16 31:7 49:16 terminated 69:20 134:20 135:4 146:3 146:23 148:17 terminating 138:23 143:17 152:5 40:5,14 51:23 66:14 68:18 75:17 75:17 107:12 119:10 145:25 146:17 territory 148:9 testified 4:5 104:18 testify 43:16 55:11 testimony 24:16 36:10 44:10 82:17 124:21 125:11,18 143:19 144:5 154:6 154:10,11,15 212-267-6868
tevfik 14:8 15:9 text 122:12,16 125:17 126:16,17 texts 125:12 thank 22:25 33:2 45:19,20 115:11 135:11,20,21 thereto 57:4 thing 74:17 81:25 146:17,25 things 27:11 55:3 60:9,11 73:6 75:18 77:21 80:7 82:22,24 82:25 118:14 119:22 think 10:9,17 12:7 12:20 17:11,12,14 17:15,19,22 19:7 20:21 22:18,19 31:22 33:13 35:10 35:17,23 36:3,7,16 36:20 39:13 41:11 41:19 50:13 52:25 64:2,21 66:16,20 68:23 72:3 81:24,24 82:3,4,22,24 88:22 90:19 96:24 97:2,9 98:23 100:18 102:8 104:20,21 111:23 112:17 113:7 120:18 123:7 124:20 128:25 129:11 131:22 136:7,25 137:18 138:18 139:2 144:16,19 145:18 147:8 148:24 150:19 151:3 thinking 34:17,19 35:18 36:16 68:19 thirty 37:19 39:18 40:20 43:15,23 thought 97:5 thousand 53:7
three 39:18 40:10,20 70:16 thursday 136:18 time 11:14,18 13:21 14:6 18:17 20:12 30:14 33:13 34:15 35:6,9,11 37:5 45:7 45:11 52:17 55:13 67:6,8 73:17 76:16 84:7 103:19,19 107:6 113:18 117:25 136:3 137:9 137:20,23 138:17 141:20 142:15 143:15 146:9 147:21 149:7 150:7 150:20,23 152:10 152:13 154:8 timely 84:17 87:7 103:3 times 5:19 15:21 18:14 25:25 89:8,24 101:11 timing 10:8 tmp 47:18 55:4,5,7 55:11 56:2 109:17 today 7:4 29:17 33:8 41:24 95:5,10,12 101:11 111:18 132:11 134:15 145:21 146:8 150:6 151:20,24 152:4 today's 140:8,18 told 22:8 25:25 44:8 45:3 63:13 89:7 92:23 114:15 132:9 tom 98:11,14 tomorrow 136:8,18 137:6 138:6 152:11 topics 137:8 topped 26:12 torpedo 98:21 99:8 tower 39:5 41:10 96:22 127:15
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transcribed 154:12 transcript 138:15 154:14 travel 15:11 treatment 141:15 tremendous 105:21 106:2 107:3 108:16 trilogy 1:4 155:3 trouble 49:4 troubled 103:17 true 7:15 8:3 20:10 87:23 93:16,21,24 94:17,20,21 95:4,5 95:12 97:10 113:17 123:15 154:14 trump 1:15 2:17,17 3:5 4:13 5:1,4,7,11 5:22 6:1,8 7:1,10,18 8:1,5,19 9:1,7,18 10:1,13 11:1,20 12:1,10 13:1 14:1 14:16,23 15:1 16:1 16:6,7,21 17:1,3,21 18:1,6,23 19:1,7,9 20:1,24,25 21:1,2,3 21:9 22:1,15 23:1,2 24:1,16 25:1,12,23 25:24 26:1,4,5,7,18 26:24,24 27:1,16,19 28:1,15 29:1,3,5,10 30:1 31:1 32:1,16 33:1,5 34:1 35:1,6 36:1 37:1,22 38:1,3 39:1,2,4,19 40:1,2,8 40:8,9,23 41:1,7,9 41:11,20 42:1 43:1 43:4,17 44:1,10,13 45:1,15,22 46:1 47:1 48:1,7,13 49:1 50:1 51:1 52:1,15 52:19 53:1 54:1 55:1,2 56:1,22 57:1 57:23 58:1 59:1 60:1 61:1,16,18 62:1,6,9,18,24 63:1 516-608-2400
Case 1:09-cv-21406-KMW Document 230-1 Entered on FLSD Docket 06/04/2012 Page 174 of 175 Page 19
[trump - windows] 63:5 64:1 65:1 66:1 66:4 67:1,11,20 68:1 69:1 70:1 71:1 71:2,12,13,16,17 72:1,6,10,18,23 73:1,10,14,17 74:1 74:4,10 75:1,10,21 75:25 76:1,2 77:1 78:1 79:1 80:1 81:1 81:8 82:1,15,19 83:1 84:1,24 85:1 85:17,20,22 86:1 87:1 88:1,13,25 89:1,4 90:1 91:1 92:1,4 93:1 94:1,5 94:19 95:1,3,3 96:1 96:5 97:1,5 98:1 99:1 100:1 101:1 102:1 103:1 104:1 104:15,18 105:1,6 106:1,6 107:1 108:1 109:1,22,25 110:1,8 111:1,5 112:1,20 113:1 114:1 115:1,5 116:1,8 117:1 118:1 119:1 120:1,4,7 121:1 122:1,12 123:1,5,25 124:1,23 124:24 125:1 126:1 126:24 127:1,15 128:1 129:1,15 130:1,4,5 131:1,10 131:24 132:1,9 133:1,14,21,21 134:1 135:1 136:1 137:1 138:1,20 139:1 140:1,5,16 141:1 142:1,6,8,20 143:1,13 144:1,12 144:13 145:1 146:1 146:20 147:1,4,17 148:1,3 149:1,5,13 150:1,7,18,18 151:1 152:1,2 153:6 155:4
212-267-6868
trump's 96:20 139:14 143:25 149:10 151:19 trumps 98:20 trying 116:22 tuesday 140:14 turn 39:18 138:8 turned 100:8 twenty 78:19 104:13 two 5:4 28:11,14 51:4,5 61:24,25 70:8,12,17 137:4 139:8 143:18,23 152:6 typically 96:12 148:11 u u 4:2 uh 71:15 81:11 ultimate 14:24 35:13 ultimately 13:7 34:21 65:17 69:4 unavailable 138:5 uncalled 30:8 uncharted 113:12 underpins 64:18 understand 5:10 7:8 15:22 22:10 31:8,12 31:21 32:6 42:12 44:20,23 45:5 47:16 92:13 98:20 127:21 131:8 136:13 137:21 149:9 understanding 25:10,15 50:7 52:17 53:19 57:7 64:7,10 65:14 90:14 110:2 117:3,14,18 141:4 understands 128:12 understood 14:11 99:10 141:19 unfairly 31:3
unfortunately 10:18 106:18,24 116:6,17 118:16 120:24 127:19 128:16 unhappy 87:5 uniformly 105:9 unit 17:23 90:16,16 112:9,10,19 116:24 116:25,25 117:5 united 1:2 105:11 108:10 units 13:14,16 16:21 52:18 104:12,12,22 105:25 107:13 108:16 112:2 113:16 114:2 universe 26:15 unjustified 143:16 unnecessarily 30:19 unrecognizable 33:23 unrelated 32:18 unsuccessfully 130:12 use 16:10 17:25 usually 58:11,22 78:8 147:23 v v 155:3 vaguely 90:8 value 96:6,12 105:14 107:19 108:7 112:18 114:3 valued 106:10 values 106:6,19 108:11 112:10 113:2,8 various 42:22 61:10 vendor 59:8 vendors 58:25 59:5 venture 8:4 ventures 8:20 veritext 155:2
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versus 24:12 25:11 61:20 129:17 view 129:19 viewpoint 143:13 virtually 50:17 vis 78:12,12 w wait 94:10 wall 22:2 want 22:15 24:10 32:23 44:25 45:14 45:18 49:4,6,8,15 52:4 62:24 70:13 73:4,5,6,6 78:19 84:18 96:16 125:9 142:4,7 146:18 149:24 150:4,9,11 150:25 wanted 65:16 74:16 106:14 117:20 130:21 140:24 148:3 wants 58:11 59:11 59:12 60:7 75:16,19 waste 150:20 watching 115:25 116:15,22 water 123:10 way 49:5,10 50:17 92:6 131:7 139:12 wayne 1:19 154:4 we've 15:4 139:17 142:19 week 134:13 139:17 140:11 142:20 weeks 143:23 weisselberg 43:12 went 106:19 108:11 139:11 west 2:4,18 28:11 whereof 154:22 willing 144:25 windows 27:5,6
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Case 1:09-cv-21406-KMW Document 230-1 Entered on FLSD Docket 06/04/2012 Page 175 of 175 Page 20
[wish - younger] wish 54:23 104:21 witness 33:3 56:9 95:24 98:2 132:14 132:22 133:6 152:14 153:5 154:9 154:15,22 155:4,20 word 61:18 91:5 words 56:2 108:14 work 14:13 20:18 87:18 88:19 91:4 130:19 134:3 worked 18:20 19:25 65:11 working 91:2 118:13 world 105:12 worse 83:24 worth 104:12,22 106:3 112:2 126:13 write 114:19 writing 71:18 73:18 74:5,8 77:8 written 94:2,7,8 109:13 wrong 68:24 94:15 wrote 19:23 114:19 117:13 x x 153:4,8 y yeah 39:14 40:11 42:25 56:12 75:22 76:11 82:13 86:6,17 91:10 97:9 99:17 103:2 105:8 127:5 years 15:18 43:15 74:3 yesterday 55:23 149:3 151:14,23 york 1:19,19,21 3:6 3:6 4:4 28:10 96:19 143:23 154:5 155:2 younger 149:12
212-267-6868
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516-608-2400
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