The battle over management of Trump Ocean Club International Hotel in Panama seems to be over – for now.
A Panama court has sided with majority owner, Orestes Fintiklis in his attempt to remove the Trump Trump’s management team.
Fintiklis has argued the Trump name was a big turn-off and alleged ‘incompetent management’ of the hotel.
Workers were seen unceremoniously removing the Trump name from the sign.
"Today, this dispute has been settled by the judges and the authorities of this country. Panama has made us proud," Miami based investor Fintiklis.
It marks the end of a weeks-long standoff which had become increasingly bitter between the two parties.
It had descended into scuffles between Fintiklis’ team and hotel security over right of access at the hotel resulting in the arrival of armed police officers, government officials and Panamanian labor regulators at different times.
"This is a purely commercial dispute that just spun out of control," Fintiklis said.
The Trump Organization has vowed to continue the fight and has begun legal proceedings.
The company said a court had "’appointed a temporary, third party administrator to oversee the management of the property while the underlying dispute is being litigated.’
