(CMR) The Ritz Carlton Cayman Islands, owned by Dart Real Estate, appears to have instructed Kurosawa Consulting to have Offshore Alert remove all mention of some a 2012 lawsuit and related articles removed from its website.
Offshore Alert posted on their website that they received a letter to the editor in email form instructing them to remove six links to articles and court cases. The letter was received from Mike Fedor of Kurosawa Consulting, a risk management firm out of New York. They specialize in digital footprint protection among other things.
All of the articles or court matters date back to 2012 and revolve around the tumultuous court case and accusations against original Canadian developer, Michael Ryan.
At the time a writ of summons was filed demanding immediate payment of nearly US$234 million from Ryan. The property was eventually sold to Five Mile Capital Partners in October 2012. In January 2013 it was revealed that partners came to a private settlement agreement.
In 2016 it was announced that Five Mile Capital has made an “investment decision” to sell the property. In October 2017 it was announced that Dart Real Estate has added the luxury Ritz-Carlton resort to its extensive portfolio of properties in the Seven Mile Beach area.
CMR understand that management and operations are still managed by Ritz Carlton which is part of the Marriott Group.
Letter to the Editor from Mike Fedor, of Kurosawa Consulting, requesting the removal of six articles and documents regarding litigation involving The Ritz-Carlton, Grand Cayman hotel and residences development in the Cayman Islands and Canadian property developer Michael Ryan.
Property developer Michael Ryan has been accused of misappropriating assets from companies involved with The Ritz-Carlton, Grand Cayman luxury hotel and residences development in the Cayman Islands.
Ryan has moved onto another luxury development – this time in the residential market. He announced in July 2017 that he was building a four-story, 36-unit development on South Church Street called Fin that should be completed this summer.