If you've no account register here first time
User Name :
User Email :
Password :

Login Now

Trump Organization Will Likely Pay Millions to Clean Polluted Site

The Trump Organization will likely pay millions of dollars to clean up a polluted site once overseen by the president’s son, Donald Jr.  The New York Times is reporting that South Carolina regulators made the decision on Tuesday — one in which the company had wanted to limit its liabilities at the industrial site in North Charleston.

Neither the president nor the company for which he has a majority stake would comment on the unit known as Titan Atlas Manufacturing, which began in 2010 and which ultimately failed in 2012.

The New York Times reported that in 2014 Trump Sr. had to bail out his son, who owed $3.65 million in outstanding bank loans. Trump Sr. then created a new entity, which took over the loan and the six-acre site. The revised entity, called D B Pace, had subsequently applied to a state program in the hopes that the public funds would limit the company’s pollution liability.

But to qualify for the protection, the story continues, the buyer can’t be related to the seller. In other words, the seller can’t evade his or her duty to clean up the site by getting a parent to buy them out. The seller has to find a buyer with whom they they are not related or have no financial ties.

The Trump Organization had maintained that such an arm’s length transaction was at hand, however, it had refused to give South Carolina officials the financial information that they had requested. “For that reason, the agency said, it would not allow the company to participate in the program, known as the ‘brownfield’ cleanup program,” the Times reported.

The EHS Guidebook: Selecting, Implementing, and Using EHS Software Solutions
Sponsored By: EtQ

  
6 Things to Consider When Deciding Whether to Build or Buy Software
Sponsored By: Progressly

  
Packaging LED & Advanced Rooftop Unit Control (ARC) Retrofits for Maximum Performance
Sponsored By: Transformative Wave

  
Video: Expense & Data Management for Complex Payables
Sponsored By: Ecova, Inc.

  

4 thoughts on “Trump Organization Will Likely Pay Millions to Clean Polluted Site

  1. As a president, Trump will have access to confidential information of all his business competitors. How unfair is that ?

  2. Trump businesses are in a revocable trust where Donald is still owner. Donald Jr. is a trustee. Good luck getting anything cleaned up. Trump will probably sue the state.

  3. According to MSNBC tonight, a Trump lawyer told them in December 2016 that Trump already had a Brownfields cleanup agreement with the state. Obviously, someone was not truthful.

Leave a Comment