By JEFF HORWITZ, MARK STEVENSON AND JUAN ZAMORANO
PANAMA CITY (AP) — Escorted by police officers and a Panamanian judicial official, the owners of the Trump Panama City hotel have taken control of the property. A team of Trump Organization security officials abandoned the area on Monday.
The action by Panama’s government resolves a 12-day standoff between President Donald Trump’s family hotel business and Orestes Fintiklis, a private equity investor who sought to drop Trump’s management company and brand. Though Fintiklis and other owners tried to fire Trump’s company last year, the Trump Organization had refused to surrender physical possession of the hotel.
Speaking from the hotel’s administrative offices Monday, Fintiklis called the fight a commercial matter that had spun out of control and praised Panamanian authorities.
A representative of the Trump Organization did not immediately respond to a request for comment.