Trump has £1bn in the bank 'ready to go' for Scottish development

Donald Trump is adamant his £1bn golf course will be built despite the credit crunch, claiming he has the money in the bank “ready to go”.

The US property tycoon is battling fears his worldwide developments are in danger after he filed a lawsuit over the funding of his Trump International Hotel and Tower in Chicago.

Trump is suing a group of lenders in an attempt to extend his £430m construction loan.

Trump Organisation executive George Sorial told the Scotsman Trump had increased his cash position and was ready to fund the Scottish development.

“The money is there ready to be wired at any time,” he said.

“I am not discussing where it is, whether it is in a Scottish bank or what, but it is earmarked for this project. If we needed to put the development up tomorrow, we have the cash to do that.

“It is sitting there in the bank and is ready to go.”

Sorial said Trump was faring well during the economic downturn because of the diversity of his business.

“Having cash in a downturn like this is a good position to be in. We have a very diverse business,” he said.

“We are talking about an organisation that has its own TV show, numerous lines of products including clothing, vodka and so on.”