The Weston-based owner of the Ritz-Carlton San Juan Hotel, Casino & Spa in Puerto Rico attributed the bankruptcy action to a pre-existing dispute between the company and the hotel management team, Ritz-Carlton Hotel Co. and the affiliated Ritz-Carlton Hotel Co. of Puerto Rico Inc.
Prior to filing the petition, the company says, in a prepared statement, it filed state and federal civil lawsuits in Delaware against Ritz-Carlton and certain affiliates. Those lawsuits accuse the hotel operator of mismanagement and refusing to grant the owner full access to all of the hotel's accounting records.
However, public court records show that Ritz-Carlton and associated defendants are denying the accusations that Green Isle filed March 31 in the U.S. District Court in Delaware.
The Weston company retained lawyer Scott L. Baena of Miami-based Bilzin Sumberg Dunn Baena Price & Axelrod to represent it in the bankruptcy petition filed in the Fort Lauderdale division of the U.S. Bankruptcy Court for the Southern District of Florida.
In its prepared statement, Green Isle officials say Judge Raymond B. Ray has issued a temporary order that compels Ritz-Carlton to grant the ownership access to all of the hotel's accounting records.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
