Published On: Mon, Aug 28th, 2017

Plaza Hotel to be auctioned again; buyer has not paid

Steven-Martina-John-W.-Burcham-Plaza-hotelWILLEMSTAD - The sale of the Plaza Hotel in Punda has been reversed. John Burcham, CEO of Allied United Financial Corporation (AUFC) has not paid and will be held responsible for the costs of the auction. Giro Bank will hold a new auction as soon as possible.

Burcham has not presented an irrevocable bank guarantee immediately after the action that was held on July 20. This was stated in the auction terms agreed upon by Burcham. Apparently, the second option which was to provide another guarantee to the executor for the amount of the bidding price was not as difficult as previously thought. But the payment of 9 million dollars has not been made.

Why the AUFC has not paid continues to be a mystery.

Burcham was the only bidder on July 20, but according to Minister Steven Martina of Economic Development, there have been some groups who have shown interest to buy the Plaza building. “But if they really want to sign up for a new auction, I cannot confirm,” says Martina.

Photo: Minister Martina (l) and John Burcham (r)

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