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Beijing Imperial Palace Hotel Ownership Dispute Resolved in Court
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In Macau, a long-running court battle over who owns the Vienna Beijing Imperial Palace Hotel has reportedly been resolved by a local court ruling.
According to information obtained by the Macau news agency, the region's first trial court decided on June 15 to grant the venue ownership to Macao's Empressa Hotel Leira de Macao over objections from rival Victory Success Holdings Limited.
The latest legal action comes amid allegations that Ng Man-sun, the mastermind of the Empressa Hotel Leira de Macao, owns the Taipa venue. The local casino mogul also serves as chairman of Hong Kong-listed Amax International Holdings, which holds a 24.8% stake in the property's former operator, Greek Xinhua Casino, and Greek Xinhua (Macao) Entertainment Group Limited.
The Macao Daily newspaper in Chinese published an article in 2016 announcing that it had seen Empressa transfer ownership of the property to Victory Success Holdings Limited to settle its debt. However, Ng soon dismissed the claims by stating that the declaration was improperly made by a rival company in order to influence the outcome of the ownership lawsuit.
Empressa Hotel Leira de Macao returned its Beijing Imperial Palace Hotel license, known as the New Century Hotel, to the Macau Government Tourism Authority, and in May Andrew Law, executive director of its parent Suncity Group Holdings Limited, declared that his company would acquire the Beijing Imperial Hotel ahead of winning the new certification.
The Macau government's tourism agency immediately responded to a request for a provisional injunction against Sun City from the first trial court, which ordered the complete demolition of the closed property because it failed to complete a series of renovations by the agreed deadline.
In its most recent ruling, a court of first instance struck down the transfer charge on the grounds that Victory Success Holdings Limited "pretended to have held a general meeting" to approve the deal. Therefore, the Beijing Imperial was owned by Macao's Empressa Hotel Leira de Macao, which determined that the company had paid for all expenses, electricity, rent, and water.
