The Aussie property developer may be untruthful. Trump's representative said that the Aussie company could not come up with $1.5 billion necessary to start the project.
"After months of negotiations and empty promise, after empty promise, on a supposed $1.5 billion project, Altus Property Group was unable to meet the most basic financial obligation due upon the execution of the agreement," Kimberly Benza, director of executive operations for the Trump Organization, said.
"Mr Young's attempt to blame certain world events for our termination of the agreement is merely a ploy to distract from his own defaults and failures."
The 91-storey luxury hotel on the Gold Coast in Queensland was meant to be Australia's tallest building.
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