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    Articles Cayman Islands Featured Investment Liquidations & Insolvencies USASeptember 10, 2012

    U. S. charity’s exposure to collapse of Ritz-Carlton, Grand Cayman may exceed $400 m

    mm
    By
    12 years ago

    Topics

    Cayman Islands Investment Liquidations & Insolvencies USA

    Keywords

    Marvin Schwan Charitable Foundation Michael Ryan RC Cayman Holdings LLC Ritz-Carlton

    Highlights

    • The Marvin M. Schwan Charitable Foundation is co-guarantor for a $233 m loan that is in default
    • The charity also invested and/or loaned more than $200 m for The Ritz-Carlton, Grand Cayman development
    • Lender RC Cayman is currently only suing one guarantor, developer Michael Ryan, and not the charity

    Related Content

    A religious charity in the United States – The Marvin M. Schwan Charitable Foundation – appears to have potential liabilities of more than $400 million due to the financial collapse of The Ritz-Carlton, Grand Cayman development, OffshoreAlert can reveal.

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