Plaza Hotel Owner Negotiates Property’s Sale From Prison
- 10 years ago
The current owner of New York’s Plaza Hotel is in a bind and needs bail money fast, so he’s put the landmark up for sale. Negotiations are being handled from prison.
The current majority owner of New York’s Plaza Hotel is in a bind and needs bail money fast, so he’s put the landmark up for sale. Negotiations are being handled from prison.
The conglomerate, Sahara India Pariwar, which is owned by Subrata Roy, purchased the property in 2012.
Since then, Roy has landed behind bars due to some questionable dealings.
He’s being held at Tihar, the largest prison in India, and to get out he needs to post a 1.6 billion dollar bail.
Apparently, he doesn’t have the money handy and may have to do some asset reconfiguring to come up with it.
The courts were sympathetic to Roy’s current position and have allowed him to use the prison’s conference hall as a multi-use, live-work space.
Available to him are teleconferencing and Internet access.
Reportedly, the accommodations have paid off and Roy has a buyer on the hook.
The Sultan of Brunei has expressed interest in purchasing the Plaza Hotel in addition to a couple of other high-profile properties.
However, as the leader introduced laws in Brunei that could prove deadly for women and homosexuals in particular, the Human Rights Campaign has begun a movement to stop the sale.
The current majority owner of New York’s Plaza Hotel is in a bind and needs bail money fast, so he’s put the landmark up for sale. Negotiations are being handled from prison.
The conglomerate, Sahara India Pariwar, which is owned by Subrata Roy, purchased the property in 2012.
Since then, Roy has landed behind bars due to some questionable dealings.
He’s being held at Tihar, the largest prison in India, and to get out he needs to post a 1.6 billion dollar bail.
Apparently, he doesn’t have the money handy and may have to do some asset reconfiguring to come up with it.
The courts were sympathetic to Roy’s current position and have allowed him to use the prison’s conference hall as a multi-use, live-work space.
Available to him are teleconferencing and Internet access.
Reportedly, the accommodations have paid off and Roy has a buyer on the hook.
The Sultan of Brunei has expressed interest in purchasing the Plaza Hotel in addition to a couple of other high-profile properties.
However, as the leader introduced laws in Brunei that could prove deadly for women and homosexuals in particular, the Human Rights Campaign has begun a movement to stop the sale.