Chicane of$ 2.5 Million around the Ritz-Carlton

News 14 July, 2017
  • Photo courtesy
    The Ritz-Carlton in Montreal has been acquired in 2006 to be renovated in addition to leave of the place to 45 luxury condominiums. The renovations were completed in 2012.

    Michael Nguyen

    Friday, 14 July 2017 22:13

    Friday, 14 July 2017 22:13

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    A lender Italian, which had increased $ 2.5 million for the renovation of the famous hotel Ritz-Carlton in Montreal has filed lawsuits to recover the money he says he never saw him again.

    “Even if the renovation of the hotel is complete and that the loan matured on December 31, 2016, the borrower has nothing refunded “, complains Heskel Gabbay, in his civil lawsuit, filed in Quebec superior Court.

    In the court document, the resident of Milan, Italy, says he has loaned the money it about 10 years ago to the holding company Sherbrooke Investors to finance major renovations that cost more than $ 200 million and which were completed in 2012.

    Non-compliance with the contract

    Since then, Mr Gabbay said to wait to review the color of his money.

    “This blatant attempt to ignore the terms of the contract must not be ignored by the court,” says Heskel Gabbay, in his pursuit.

    Unless an amicable settlement, the case will be presented to a judge soon.