WSJ: "Pristine beaches, villas designed by famous architects and the endorsement of Michael Douglas and Catherine Zeta-Jones wasn’t enough to keep yet another Caribbean resort from going belly up.
Lenders put the massive Dellis Cay development in the Turks and Caicos islands into receivership on Thursday, roughly a week after developer Turks Ltd. stopped construction. The resort was to include 25-room hotel, 78 for-sale condominiums and 17 villas, all managed by Mandarin Oriental Hotel Group."
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UTC Takes Action to Protect Value of Its Investment
Lenders put the massive Dellis Cay development in the Turks and Caicos islands into receivership on Thursday, roughly a week after developer Turks Ltd. stopped construction. The resort was to include 25-room hotel, 78 for-sale condominiums and 17 villas, all managed by Mandarin Oriental Hotel Group."
Related
UTC Takes Action to Protect Value of Its Investment
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