The Donald: "I've got £1bn in the bank ready to fund golf resort"

Jane Bradley reports that The Donald has all £1 billion needed to fund the Scottish golf project. Cash just waiting to be wired!

George Sorial, the Trump Organisation executive in charge of the golf resort development near Balmedie, told The Scotsman that Mr Trump had recently "increased his cash position" and has the money on hand to fund the development.

The Scottish Government gave the go-ahead to the project earlier this month, after strong opposition from locals drove the development to a public inquiry.

Mr Trump's plan for the site includes two golf courses and a 450-bedroom hotel and housing, as well as holiday apartments and golf villas.

Mr Sorial said: "The money is there, ready to be wired at any time. 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."

He added: "I don't think anyone in Scotland has anything to worry about."

He better, since he's suing one of his primary lenders!

Mr Trump, who is due to visit Scotland in two weeks to meet his Scottish development team, has recently filed a suit against a group of lenders – led by Deutsche Bank – on the 92-storey project, in an attempt to extend his $640 million (£430 million) construction loan.