Trump business evicted from Panama luxury hotel

Trump business evicted from Panama luxury hotel

Trump business evicted from Panama luxury hotel

After a protracted, odd standoff over the status of the hotel, its majority owner, Orestes Fintiklis, managing director of Ithaca Capital Partners, has taken control of the property and unceremoniously removed the Trump Hotels name from its facade. In January, Fintiklis invited a team from Marriott International to tour the property without informing the Trump Hotel's management team, prompting them to turn Marriott's group away at the door.

During a press conference, Fintiklis seemed confident he had won the legal battle against the Trump Organization.

A tourist poses for pictures after the Trump logo was removed from the entrance to the Trump Ocean Club International Hotel and Tower luxury complex in Panama City. Though the owners tried to fire Trump's company past year, the Trump Organization had disputed the termination as legally invalid. The whereabouts of the Trump hotel management team could not be immediately determined, but Fintiklis declared the fight over.

The Trump Organization maintains the hotel has appointed interim management as they await a review from an arbitration panel.

Panamanian authorities reportedly ruled that the hotel owner could take control of the hotel's administration.

"Today, this dispute has been settled by the judges and the authorities of this country", Fintiklis told reporters.

Fintiklis wasted no time having the Trump name hammered off the hotel's marble walls.

The hotel and most of the apartments were sold past year to Fintiklis's Ithaca Capital Partners, which is based in Miami.

The most recent and intense feuding began February 22, when the Miami-based Fintiklis came to the property with termination notices for Trump's management team. At least one Trump security official was taken off the property in handcuffs, though a police source told the AP he was not arrested.

Fintiklis hailed the court decision: "Panama has made us proud". With a 2017 report from Global Witness noting that the building had laundered "proceeds from Colombian cartels' narcotics trafficking", making Trump "one of the beneficiaries" of such laundering, questions continue to pile about what the president and his family knew about the money laundering swamping the property.

However, it remains unclear exactly what kind of victory Fintiklis had claimed. He claimed a Panamanian court allowed him to take control of the property, the Washington Post reported.

The statement arrived a few hours after workers at the hotel had begun removing Trump's name from the property.

The Trump name was removed from outside the hotel shortly after the eviction and Fintiklis played and sang a Greek anti-facist song on the lobby piano.

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