Donald Trump FeelsThe Crunch

Deutsche Bank AG sued Donald Trump over the developer's troubled Chicago condominium and hotel project, in a further sign of that no one is immune to the worlds lending crisis

Deutsche Bank Trust Co. Americas announced its decision to sue the developer, claiming it was owed $40million after Trump defaulted on a $640million construction loan for Chicago's Trump International Hotel and Tower.Trump filed his own suit against Deutsche last month, seeking to excuse a repayment of more than $330million due on 7 November. He also wished to extend the construction loan for an unknown period as a result of the economic slump which he described as a “once-in-a-lifetime credit tsunami2.

The day continued with Trump Entertainment Resorts Inc announced it would not make a $53.1million bond interest payment due today.The decision was made in a bid to “maintain sufficient liquidity”. Trump said a 30-day grace period would be applied to the missed interest payment and would use the time to pursue discussions with lenders to restructure the company's capital structure.The casino company said there was no assurance any agreement would be reached.

It's shares fell from $5.70 last December to a close of 31 cents on Friday.