Panama Hotel Removes Trump's Name

Panama Hotel Removes Trump's Name

Panama Hotel Removes Trump's Name

Orestes Fintiklis, who purchased the majority share of the building in August, had the Trump Organization removed from the building on Monday after a Panamanian court ruled in favor of Fintiklis taking over the hotel's administration, the New York Times reports.

Originally, Fintiklis, and other hotel unit owners, complained that the president's vast unpopularity in Latin America was responsible for the 70-story property's decline in revenue.

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 legal battle began last month when Mr Fintiklis said he meant to force the Trump Organization out before its management contract was up, and to rebrand the hotel.

Trump Hotels last week accused Mr Fintiklis of "fraud" and using "mafia-style tactics" to force its administration staff out of the disputed building. Meanwhile, after Fintiklis and his associates hand-delivered termination notices to Trump Organization employees at the hotel, witnesses told the AP that they saw Trump executives moving files to a room, where they would be shredded.

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 a year ago.

"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.

Workers removed the Trump logo from the entrance to the luxury complex, where police had been deployed earlier in the day.

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The standoff between Miami-based Fintiklis and the management team at the hotel lasted over a week.

"Today Panama has made us proud", he said, adding that he meant to apply for Panamanian citizenship.

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. "That's a question we shouldn't have to ask, but one everyone needs to be asking".

However, it remains unclear exactly what kind of victory Fintiklis had claimed.

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".

"And now, as you guessed it, I will play the piano", he said before playing a traditional Greek, anti-fascist anthem that he sang along in Greek, The Post reported.

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

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