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U. S. owner of $250 m loan seeks to take control of The Ritz-Carlton, Grand Cayman development

Articles Cayman Islands Featured Investment USAFebruary 28, 2012

U. S. owner of $250 m loan seeks to take control of The Ritz-Carlton, Grand Cayman development

By David Marchant

11 years ago

Topics

Cayman Islands Investment USA

Keywords

Cesar Properties Ltd. Column Financial Inc. Condoco Grand Cayman Resort Ltd. Credit Suisse David Lattimer

Five Mile Capital Partners Frances Doud I.R.R. Limited James G. Glasgow, Jr. Keith Boheim Marvin Schwan Charitable Foundation Michael Ryan Norman Klein RC Cayman Holdings LLC Royal Bank of Scotland Tony Haddad

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Highlights

U. S. firm seeks order restraining Cesar Properties Ltd., Condoco Grand Cayman Resort Ltd., Michael Ryan, Frances Doud, and Tony Haddad from "interfering with" its take-over
Delaware-domiciled RC Cayman Holdings LLC owns loan originally issued by The Royal Bank of Scotland
Developer Mike Ryan assures guests and property owners they will not be affected by the litigation
"It is hoped and expected that an agreement between the parties to resolve this matter will be concluded in the near future," says Ryan

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The United States-based owner of a $250 million loan is attempting to take control of The Ritz-Carlton, Grand Cayman luxury resort in the Cayman Islands from developer Michael Ryan, OffshoreAlert can reveal.

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