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FinancialNews


  • 02-11-17

    Viceroy to restore branding property on Dubai's Palm Jumeirah

    (MENAFN) Viceroy Hotel Group has announced it will take necessary steps to restore its branding to a USD1.17bn property on Dubai's Palm Jumeirah after obtaining a favorable verdict from the emirate's Joint Judicial Committee.

    The hotel group said the committee ruled that a sanction it obtained from the Dubai International Financial Centre (DIFC) Courts against property owner Kabir Mulchandani could be enforced after its "unlawful expulsion" from the hotel.

    Months after its April opening, Mulchandani's Five holdings (formerly Skai holdings) announced its purported takeover of the Viceroy Palm Jumeirah on June 19, saying the property had been rebranded Five Palm Jumeirah Dubai.

    MENAFN0211201700450000ID1096028216

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