Saturday, February 24, 2018

The other "Panama Papers"


Representatives of the hotel owners’ association formally sought to fire Trump’s management team Thursday by hand-delivering termination notices to them at the Trump International Hotel and Tower, according to a Panamanian legal complaint filed by Orestes Fintiklis, who controls 202 of the property’s 369 hotel units. Trump’s managers retreated behind the glass walls of an office where they were seen carrying files to an area where the sounds of a shredding machine could be heard, according to two witnesses aligned with the owners. The legal complaint also accused Trump’s team of improperly destroying documents.

The witnesses spoke on condition of anonymity over concerns they would be drawn into an expensive and protracted legal fight.

  AP
Practically guaranteed. It's the Trump way.
On Thursday, Fintiklis arrived at the property with management staff and lawyers intending to take over the hotel immediately. The Trump management team again refused to yield control of the property, and according to the legal complaint filed by Ithaca’s lawyers, refused to allow Fintiklis to check into any of his company’s 202 hotel rooms.

[...]

Elsewhere in the building, the hotel owners’ team and its allies were barred by Trump Hotel staff from entering the room containing the building’s closed-circuit TV system as well as key computer servers for the hotel and apartments that share the property. In response, they shut off power to the room — temporarily bringing down phone lines and internet connections within the building.

According to the legal complaint, Trump’s chief of security and six security guards “pushed and shouted at” Fintiklis when he came to deliver the termination notices. The complaint said the hotel employees then called the police.

[...]

The AP reported that the Trump management team ran off a group of Marriott executives who had been invited to tour the property amid a search for a replacement hotel operator.

[...]

The showdown is the newest low in a months-long fight over control of the property. Last August, Fintiklis’ Miami-based Ithaca Capital Partners bought the 202 units in a fire sale from the property’s struggling developer. As part of the deal, Trump Hotels sought and received some assurances that Ithaca would not seek to act against its interests as hotel manager.

Relations quickly soured amid abysmal hotel occupancy numbers and allegations by Ithaca and other hotel unit owners of financial mismanagement or misconduct.
Not the Trump organization! Who's gonna believe that?

...but hey, do what you want...you will anyway.

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