Am Weinberg owner to oppose liquidation
Am Weinberg Boutique Hotel owes Bank Windhoek N$6.2 million.
OGONE TLHAGE - Property owner Archie Graham is opposing the liquidation of the Am Weinberg Boutique Hotel and various other businesses owned by him.
Bank Windhoek recently applied for the liquidation of the hotel and 12 other businesses associated to Graham.
Graham, through his lawyer Danielle Lubbe Attorneys, filed a relief claim, opposing the bank’s intended action.
The relief claim opposes Bank Windhoek’s intent to manage businesses associated to Graham.
The claim also states that Bank Windhoek has no authority to manage or sell any of the plaintiff’s properties.
Graham also opposes the collection of rent by Bank Windhoek through its appointed agent, Joseph & Snyman.
Graham is also demanding that Bank Windhoek pay his legal costs related to the bank’s applications for liquidation orders.
PROVISIONAL LIQUIDATION
The hotel and Graham’s 12 other businesses have been placed in provisional liquidation.
The hotel owes the bank N$6.2 million. The bank also says the 12 close corporations owe it amounts ranging between N$6.2 million and N$15.5 million, and are similarly unable to pay their debts.
Graham had also changed the name of his company, Jimmy Construction, to Green Property One Hundred and One and later sought to have it liquidated, all without informing Bank Windhoek.
In terms of a refinancing agreement between Graham and Bank Windhoek, the bank had received a N$100 million offer for the hotel but Graham had refused to sign off.
Graham has blamed the state of the economy for his financial problems.
Bank Windhoek recently applied for the liquidation of the hotel and 12 other businesses associated to Graham.
Graham, through his lawyer Danielle Lubbe Attorneys, filed a relief claim, opposing the bank’s intended action.
The relief claim opposes Bank Windhoek’s intent to manage businesses associated to Graham.
The claim also states that Bank Windhoek has no authority to manage or sell any of the plaintiff’s properties.
Graham also opposes the collection of rent by Bank Windhoek through its appointed agent, Joseph & Snyman.
Graham is also demanding that Bank Windhoek pay his legal costs related to the bank’s applications for liquidation orders.
PROVISIONAL LIQUIDATION
The hotel and Graham’s 12 other businesses have been placed in provisional liquidation.
The hotel owes the bank N$6.2 million. The bank also says the 12 close corporations owe it amounts ranging between N$6.2 million and N$15.5 million, and are similarly unable to pay their debts.
Graham had also changed the name of his company, Jimmy Construction, to Green Property One Hundred and One and later sought to have it liquidated, all without informing Bank Windhoek.
In terms of a refinancing agreement between Graham and Bank Windhoek, the bank had received a N$100 million offer for the hotel but Graham had refused to sign off.
Graham has blamed the state of the economy for his financial problems.
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