My Cart

Close

GO. FIGHT. WIN.

Trump Panama – Injunction GRANTED

Donate to Mad Dog

Posted on March 23 2018

    AP Photo/Arnulfo Franco

 

 

In January 2018, Ithaca Capital,  the “new”owners of Trump’s Ocean Club-Panama Hotel filed a federal lawsuit against Trump Panama Hotel Management & Trump International Hotel Management in US SDNY.

At the core of Ithaca’s lawsuit, is what’s become a predictable pattern for Donald J Trump, a now proven vexatious litigant. Trump asserted that his Companies had a right to adjudicate via Arbitration in the International Court of Arbitration. No I’m not making that up.

What I find spectacularly ironic is Trump Panama Hotel, was Donald Trump’s first International Hotel venture. Purportedly earning Trump between $30 million to $50 million. The symmetry is just exquisite.

I pulled out some noteworthy nuggets of Ithaca Capital’s Filing. To say the relationship between Trump & Ithaca is acrimonious, perhaps an understatement. At a certain point in the filing you can literally feel the frustration.

 

Perhaps the best qoute in this Filing: “In other words: Trump is being Trump”the precursor to that qoute is Ithaca Capital carefully explained Trump is a: bully, fraud and threatens arbitration and protracted litigation.

Link to original complaint here Jan 2018 Trump Panama Lawsuit

Ithica Capital Argued in their lawsuit;

  • …”baseless fraud and conspiracy claims that entirely lack merit and have already been rejected by the Panamanian courts.”
  • In other words, Trump is being Trump.
  • “Trump cannot bring its claims against Plaintiffs in the Arbitration because there is no agreement to arbitrate in the Bulk Sale Agreement
  • Trump is unable to defend against the claims of mismanagement
  • Trump’s only apparent defense is to deflect focus from the actual issues – Trump’s mismanagement of the Trump Panama Hotel and the termination of its management agreement
  •  “having lined its pockets with ill-gotten management fees”
  • “This decline in occupancy has had and continues to have a direct impact on the hotel’s bottom line. The resulting decline in revenues has been particularly precipitous in the past two years.”

Late yesterday afternoon, after 2 hours of oral arguments Judge Ramos, ordered an injunction which blocks the Trump entities to pursue arbitration and regaining control over the now failed Trump Panama Hotel. Here’s a CNBC article citing the Judge’s rulingJudge Rules Against Two Trump entities

While you're here, throw us a bone.

Mad Dog is thrilled to have Spicy in our PAC(k). We are proud to provide a space for her tireless, hard hitting, in-depth investigations. But we can’t do it without you.

Our numbers are growing. Our voices are being heard. Our campaigns are making a difference. Help us, and Spicy, continue to fight the good fight. Consider a donation to help support the work of Mad Dog PAC today.

DONATE