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International Perspective - Repossession in Panama
The service of a termination notice by the owner of a luxury hotel in Panama got out of hand earlier this month. The hotel was managed by a company owned by Donald Trump.
The owner wanted his hotel back but Trump’s management company had other ideas. Having attempted, and failed, to serve notice, the US owner of the hotel, Mr Fintiklis, returned to the hotel with a security team to deal with matters in a more forthright manner. The management company’s security team were duly mobilised and this resulted in ongoing skirmishing over physical control over the premises that lasted for a week. Having initially adopted a relatively “hands off” approach, the Panamanian police finally intervened and the Trump management team and their security staff quietly exited the property. To cap off a surreal turn of events, Mr Fintiklis proudly declared to the media that he was incredibly proud of Panama and that he intended to apply for Panamanian citizenship. Enforcement of possession can sometimes get messy but this incident created a mess of an entirely different kind.
This article features in the Hughes Paddison Spring 2018 Property Disputes Update. You can view a summary of the full content of the newsletter and download a copy here.