Trump Name Stripped From Panama Hotel In Property Dispute

Randolph Lopez
March 7, 2018

However, Trump officials did leave on Monday on their own accord, leaving the hotel's administrative office vacant.

The move put an end to a 12-day dispute between the Trump Organization and Orestes Fintiklis, a majority owner of the hotel who wanted to scrub the property of the company and its brand.

Fintiklis, who wants to drop the Trump name from the building, argued in court documents that the Trump Organization's mismanagement caused occupancy levels to drop while expenses rose.

"Today, this dispute has been settled by the judges and the authorities of this country", Fintiklis, a Miami-based private equity investor and head of the hotel owners' association, said, according to Reuters.

The Trump Organization, which appears to have lost control of the management of the hotel in a bitter property dispute, at least temporarily, said it was "fully confident" it would prevail in the legal battle.

Fintiklis bought 202 of the hotel's 369 room units previous year, assumed control of the hotel's condominium owners association, and quickly moved to kick the Trump Organization out.

The hotel and the majority of the apartments were sold previous year to Mr Fintiklis' Ithaca Capital Partners, which is based in Miami.

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"This was purely a commercial dispute that just spun out of control", Fintiklis said in a statement.

Trump Organization security abandoned the property. Or as a spokesperson for Citizens for Responsibility and Ethics in Washington (CREW) told Business Insider, "When the president refused to divest from his businesses, there was always the fear that there would be some sort of incident at one of his overseas entities, and his judgment and loyalty could be tested".

It remains unclear whether that inquiry is still open.

Trump name chiseled off the Trump International Hotel in Panama after weeks of tensions over control of the property.

As part of his fire sale purchase of 202 of the hotel's 369 units, Fintiklis signed a February 2017 agreement not to challenge Trump's management contract - a deal that Trump Organizations consider binding. In late December, Trump's management team ran off a team of Marriott hotel executives visiting the property at Fintiklis's invitation. A representative of the Trump Organization did not immediately respond to a request for comment.

"How will this impact any future decisions the Trump administration makes towards Panama?".

Last week, a pair of California and NY lawmakers demanded answers about what the president knew, requesting information on Trump's due diligence - or lack thereof - when it came to the Panamanian property, which he had reportedly described as Ivanka's "baby". The Cyprus national then started playing a Greek anti-fascism song entitled "Accordeon" on a piano.

Other reports by GlobalViralNews

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