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From the CBC
The company that owns Vancouver's Trump International Hotel has filed for bankruptcy, according to documents from the Office of the Superintendent of Bankruptcy Canada.
Staff who answered the hotel phone Friday morning said the hotel has closed permanently.
Hotel operator TA Hotel Management Partnership Ltd. filed for bankruptcy on Thursday. TA Hotel Management Limited Partnership is a subsidiary of TA Global Berhad.
TA Global Berhad's website says it is based in Kuala Lumpur, Malaysia, and involved in property development and investment, with luxury highrises in key locations worldwide.
CEO Tiah Joo Kim has been at the helm of TA Global Berhad as CEO since 2016, according to his online bio. He opened the Trump hotel in Vancouver in 2017 and soon after expressed concerns about the deal, amid protests.
COMMENT:-
Just to clarify this article, Mr. Trump is NOT in the least bit involved in the bankruptcy and will NOT lose a dime on the deal. In fact, if the deal between Mr. Trump and TA Hotel Management Limited Partnership was structured as I rather suspect it was, Mr. Trump got paid - up front - for a multi-year licence to use his name on the hotel and he won't have to repay the money simply because TA Hotel Management Limited Partnership is no longer exercising its right to use his name on their hotel.
Trump Hotel in Vancouver closes as company files for bankruptcy
The company that owns Vancouver's Trump International Hotel has filed for bankruptcy, according to documents from the Office of the Superintendent of Bankruptcy Canada.
Staff who answered the hotel phone Friday morning said the hotel has closed permanently.
Hotel operator TA Hotel Management Partnership Ltd. filed for bankruptcy on Thursday. TA Hotel Management Limited Partnership is a subsidiary of TA Global Berhad.
TA Global Berhad's website says it is based in Kuala Lumpur, Malaysia, and involved in property development and investment, with luxury highrises in key locations worldwide.
CEO Tiah Joo Kim has been at the helm of TA Global Berhad as CEO since 2016, according to his online bio. He opened the Trump hotel in Vancouver in 2017 and soon after expressed concerns about the deal, amid protests.
COMMENT:-
Just to clarify this article, Mr. Trump is NOT in the least bit involved in the bankruptcy and will NOT lose a dime on the deal. In fact, if the deal between Mr. Trump and TA Hotel Management Limited Partnership was structured as I rather suspect it was, Mr. Trump got paid - up front - for a multi-year licence to use his name on the hotel and he won't have to repay the money simply because TA Hotel Management Limited Partnership is no longer exercising its right to use his name on their hotel.
