Trump International Hotel & Tower at Waikiki Beach Walk was hailed as a one-of-a-kind Trump project. But close to a dozen buyers have come forward fearing that it could just become another "Brand X" hotel and condo.
"Because they were concerned about loosing the trump name off the project, they wanted us to examine documents to see whether or not they had any protections," said Attorney Warren Price.
In a lawsuit filed Monday Attorney Warren Price said Los Angeles based developer Irongate obtained a license to use Trump's name, but concealed the terms and conditions of when and how that license could be terminated. And the Trump logo removed from the building.
"If he takes it away our peoples investment goes from a Rolls Royce down to a Toyota," said Price.
The buyers he represents claim that was not the investment they intended to make.
"So how the Trump name could be lost is a big issue particularly now since Irongate and Trump are suing each other over a failed project in Baja," said Price.
He says by law, Irongate should have provided buyers with the Trump license agreement before any contracts were set.
"Irongate the developer had a duty to disclose to them every single fact that would be material to a buyer," said Price.
Now all buyers want is out and their contracts canceled.
"We're not asking for punitive damages, we're not claiming fraud, we're not even claiming a mis-representation," said Price. "Our client's aren't gonna put another penny of money into this they just want what they put in back."
Price is representing about ten buyers in the lawsuit and expects to add a dozen more in the next week. The hotel tower is set to open in September.
Irongate could not be reached for comment.
