One of our regular blog readers notified me of an article in yesterday’s Wall Street Journal where Donald Trump offered to refund half the deposits to buyers who hadn’t closed and agreed not to join a lawsuit against him alleging fraud.
The article can be found here: Trump SoHo Refunds Money.
The crux of the suit is this: “representatives of Trump SoHo engaged in ‘fraudulent misrepresentations and deceptive sales practices’ by inflating the number of purchases to attract more buyers.”
Throughout the life of this blog I have heard many ideas what the Vue Charlotte can be sued for. It seems that it is not only MCL that holds the legal cards. As I have said before, lawsuits are a very messy, costly, and to me, worst-case solution, whichever side of the table you are on. Dan McLean in the Charlotte Observer article said that it wasn’t him that sent the court order to the blog, and wouldn’t tell the reporter why it was sent or whether he would actually sue the pre-sales buyers. But I know from feedback that this posting had the desired effect: it instilled fear into the pre-sales buyers. For that, I regret posting it.
The blog has been contacted with various legal ideas and will continue to evaluate the legal avenues open to the pre-sales buyers should they need to use them. I will also post what is happening at other developments like the Trump SoHo link above.
I hope it never comes to resorting to lawsuits. I hope no buyer closes because they are afraid. I hope you close because you want and are able to honor your contract and that you love the Vue Charlotte.
And my wish for MCL (and by now you know I seem to never get my MCL wishes!) is to remove the fear it has instilled in some of our readers. Fear is not the most healthy emotion for any of us to work under. It is MCL’s legal right to take whatever steps they deem necessary to save their business. And it is the pre-sales buyer’s right to defend themselves. And as I have said before, if it comes to this, the only winners will be the lawyers.
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