For several weeks there has been a battle at the Trump Panama Hotel, Donald Trump’s vagina-shaped condo/hotel in Panama City, Panama. Trump employees have been attempting to keep control despite orders by the majority owner to leave. Today, ABC News has reported that the employees were met with Panamanian police and judges and peaceably removed. Almost immediately the ‘Trump’ name was removed from the exterior. This effectively ends Trump operations in the hotel/condos, though legal battles are expected to continue in both Panama and the United States.
Trump Panama Team Poor Management Style
Orestes Fintiklis obtained a majority of the units in the hotel/condo last year and has claimed that the Trump organization has mismanaged the property. He has been attempting to end the contract with the management organization led by the Trump organization.
A recent attempt by Fintiklis to fire the Trump organization and remove the employees resulted in his removal; however, today he returned with the full force of Panamanian law and successfully ended the Trump occupation.
If the takeover is not struck down in court it will mark a vindication of Fintiklis and his claim of mismanagement. The Trump organization has apparently not disputed Fintiklis claim of mismanagement, but rather has attacked Fintiklis claiming that he agreed to the Trump management contract and its fees and he acted in bad faith.
Trump To Use Position To Retaliate?
There is now a growing question of whether Trump will use his power as President to retaliate on Panama for the support of Panamanian authorities in ousting his management team. That would be a clear violation of U.S. law; however, it a real concern about a man who has manipulated markets to benefit his allies as he did last week with an announcement of a new tariff on steel and aluminum.
Maybe North Korea can breathe easier now.