Plaza Hotel & Casino in Curacao sold to only bidder in auction

Plaza Hotel & Casino in Curacao sold to only bidder in auction

Posted on 07/20/2017 5:45 pm AST | Updated on 07/20/2017 5:45 pm AST

WILLEMSTAD – Plaza Hotel y Casino in Curacao was sold to John Burchan of Waterfront Hotel Group for 9 million dollars during an auction process this morning. This according to Curacao evening paper Amigoe. Burchan was the only bidding party at the auction. As the sale took place at the entry price, this was enough for the Giro Bank to cover the current outstanding debt of the hotel, declared bankrupt earlier this year. As for the 50 employees, they will now be laid off and be eligible for severance pay. The new owner has 10 business days to make the money transfer to the attending bank, Giro Bank. Source Amigoe newspaper, picture Curacao to Go .

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