De Gaulle Fleurance & Associés advises DUET at the end of the insolvency proceedings and in the context of the operation of the luxury hotel, Taïwana, in partnership with its initial owner (Saint Barthélémy)

30/03/12

Pursuant to the judgment delivered by Pointe à Pitre Commercial Court on 26 January 2012, Duet just signed partnership agreements with Mr Nemeygei, initial owner and operator, with regards to the operation of the luxury hotel Taiwana located in Saint Barthelemy.

Pursuant to bankruptcy proceedings opened on 6 May 2012, this hotel restaurant, valued at 50M€, went into receivership. Me Segard was appointed receiver. A transfer plan amounting to 32M€ (including 10M€ of disputed cancellation of debt) was filed by American investors, who manage a luxury hotel in New York via their investment vehicles.

 

For its part, Duet preferred to be in a position of investor along with the initial owner and operator. First, Duet ensured the end of the insolvency proceedings and provided the required capital to this end. Then Duet took control of the operation in the context of a leasing-management in favour of one of its vehicles, the other real estate rights were placed in a holding company pursuant to a deed signed by Duet and Mr Nemeygei in the presence of a notary public, which governs all their relationships.

 

Operating results are already satisfactory insofar as Duet, a regulated investment fund managing more than 2.7 billion assets via various vehicles, is familiar with the management of luxury hotels in Europe and India.

 

Duet was advised by the law firm de Gaulle Fleurance & Associés and the notary office Paget.

Mr Nemeygei was advised by Saint Louis Avocats and the notary office Ciffréo.

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