The legal dispute involving Trump’s company was expected to continue, but Monday’s developments meant that Trump had effectively surrendered physical control of his property in Panama. Within hours of the verdict from a Panamanian court, hotel staff removed the Trump name from its main entrance.
The majority owner of a luxury hotel in Panama City has regained control of the building after a legal battle with its management – the Trump Organization. Consequently, Trump’s name was removed from the main entrance immediately.
According to Orestes Fintiklis, a private equity investor and the head of the hotel’s owners’ association, the court’s verdict was purely a commercial dispute that just spun out of control. This week, this legal battle has been settled by the local authorities and the judges.
In 2017, the Ocean Club’s owners tried to fire Trump’s company, and the Trump Organization had disputed the termination as legally invalid – despite that – TO refused to hand over the property.
In fact, the legal battle ended quietly when a Panamanian judicial official accompanied by police came to help enforce Orestes Fintiklis’s claim to the property. More than half a dozen of Trump’s security officials were seen abandoning the building. The whereabouts of the Trump hotel management team are not clear, but Fintiklis declared the fight over.