Trump Name Stripped From Panama Hotel In Property Dispute

Posted March 07, 2018

"The only ill-deserved victor here is the (Trump Organization) who continues to clip management fees whilst our hotel is driven into the ground", Fintiklis wrote in a letter to fellow hotel-room owners earlier this year.

The AP reported that the Trump Organization's security team had "abandoned the area" after Monday's visit from police and a Panamanian judicial official.

The Trump Organization did not immediately respond to Newsweek's request for comment or confirmation about Fintiklis wresting power from the global real estate empire.

The row erupted last month when Mr Fintiklis, a Miami-based investor who a year ago became owner of the majority of units in the building through a company he controls, said he wanted to boot the Trump Organisation out before its management contract was up, remove the Trump name and rebrand the building. The dispute between Fintiklis and the Trump staff has not only decimated occupancy rates at the hotel - once considered one of Ivanka's foremost projects - but threatened to become a spiraling controversy that could engulf the White House.

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As part of the deal, the administration of the hotel remained in the hands of the Trump Organisation, run by the president's two sons since he took office past year.

As the New York Times reported, "An arm of a foreign government finds itself in the extraordinary position of investigating a business owned by the American president". "And today this dispute has been settled by the judges and the authorities of this country".

Fintiklis complained to the Panamanian prosecutors' office that Trump Organization employees were barring him access to the units he owns in the sail-shaped complex, which also boasts a casino, shops, a spa and small private beach. Fintiklis, now based in Miami, purchased 202 of the 369 room units last, according to the Post report, and took control of the condo association there.

Now, the Trump Hotels brand operates 11 properties in its portfolio after hotels in Toronto and NY similarly voted to step away from the brand recently.

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

The situation grew so bad that footage leaked of Trump Organization security and hotel officials fighting within the building. "That's a question we shouldn't have to ask, but one everyone needs to be asking".

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

It remains unclear whether that inquiry is still open. "He then played a song on the piano for the gathered onlookers with lyrics that, when translated, said, 'Fascism will not prevail'".

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