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Articles Canada Cayman Islands Featured USAMarch 23, 2012

Ritz-Carlton, Grand Cayman lender sues developer Michael Ryan for US$234 million

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By
11 years ago

Topics

Canada Cayman Islands USA

Keywords

Cesar Hotelco (Cayman) Ltd. Cesar Properties Ltd. Condoco Grand Cayman Resort Ltd. Condoco Properties Ltd. Five Mile Capital Partners
Michael Ryan RC Cayman Holdings LLC Ritz-Carlton
[ 3 more... ] [ top 5 ]

Highlights

  • Mike Ryan is the "guarantor" for an outstanding loan of US$234 m, claims lender
  • Interest on unpaid loan is allegedly accruing at US$48,454 per day
  • Lawsuit was filed four days after lender appointed Receivers for The Ritz-Carlton, Grand Cayman development

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Canadian property developer Michael Ryan is being sued for US$234 million in his alleged capacity as the guarantor for an outstanding loan that was used to help build The Ritz-Carlton, Grand Cayman hotel and residences development in the Cayman Islands.

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