Luxury Hotelier Hits Back At Investment Co. In Fee Row

Law360, London (February 24, 2020, 4:30 PM GMT) -- A hotelier has struck back at an investment company suing him in England for failing to pay fees on loans for a luxury hotel in Jerusalem, accusing it of exploiting its own delays to rack up large, unexplained costs.

French businessman Michel Ohayon countersued Adare Finance DAC in the High Court on Feb. 17, saying the Irish company owes him $2.3 million he was charged for borrowing money to buy the Waldorf Astoria hotel in the ancient city in Sept. 2017.

Ohayon and his company, Yellowstone Capital Management SA, took $113.2 million from Adare before their business relationship soured, prompting him...

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