Ryan & Kim: Trump Hotel Bankruptcies

Posted by admin on Thursday, March 2, 2017

Steven M. Ryan & James W. Kim, Counsel for BP-Metropolitan Investors, LLC in a Money Quote regarding Donald Trump history of Bankruptcy he failed to disclose in his RFP to GSA on Washington D.C. Hotel project criticized by Hilton Attorneys relative to competitive bid for the old D.C. post office project. Steven M. Ryan & James W. Kim, Counsel for BP-Metropolitan Investors, LLC said:
 

 

“The record of Trump bankruptcies by all accounts we have reviewed indicates that Trump is an unreliable business partner. Trump has a different posture at bid and award press conferences and unfavorable history revealed in bankruptcy and court proceedings that emerge as the project fails. The record reveals that Trump projects often fail, and fail publicly. In those instances of failure, Trump has often walked away” — Steven M. Ryan & James W. Kim

 

 

This quote is providing a critical analysis of Donald Trump’s business record based on bankruptcies and court proceedings related to failed projects. The authors are saying that Trump often overpromises at the beginning of projects but the projects later fail, and that in these instances of failure Trump has frequently avoided financial responsibility by declaring bankruptcy.

So in summary, the quote is interpreting Trump’s business history as showing him to be an unreliable partner who is more focused on publicity at the start of deals but tends to “walk away” from projects after they fail.