No bidders for court-run sale of Trump tower in Toronto

Toronto

THE court-run sale of a downtown Toronto high-rise bearing the name of US President Donald Trump received no initial bids and ownership will likely fall to its main debt holder, a letter from the receiver showed.

The court process only indirectly involves Mr Trump, whose sprawling business empire licenses its brand and manages the Toronto property on behalf of the developer, Talon International Inc. But the Trump International Hotel & Tower's new owner will need to …