Ousted Setai management company wins damages in arbitration

 

hsampson@MiamiHerald.com

The management company that was ousted from the Setai Miami Beach in 2012 over poor performance said arbitrators have ruled in its favor.

Singapore-based General Hotel Management, or GHM, said in a press release that the ICC International Court of Arbitration ruled on Thursday that allegations of mismanagement were without merit and GHM should be awarded damages for improper termination.

“The damages and costs awarded to GHM thus far are in excess of $10 million,” said Daniel F. Benavides, an attorney representing GHM, in a statement. “GHM still has pending tort claims in state and federal court which may yield additional damages awards.”

The hotel’s owner, an affiliate of Lehman Brothers Holdings, kicked GHM out in an early-morning takeover in 2012 and installed Trevi Luxury Hospitality Group.

Arbitration has been ongoing for two years. A spokesman for Benavides said the ruling had not yet been filed and could not be provided Friday.

A representative for the arbitration court could not be reached Friday; a spokesman for the law firm representing the hotel’s owner did not provide a response to the ruling by Friday afternoon.

Read more Business stories from the Miami Herald

  •  
Marcell Haywood

    BUSINESS MONDAY CEO ROUNDTABLE

    Taxi alternatives could improve service

    Today marks the launch of the Miami Herald CEO Roundtable, comprising more than two dozen CEOs and senior executives in companies large and small from the region’s key industries. The goal: To provide a temperature check of local economic conditions and business opinions on current topics. Look for a selection of responses each week in print; to see all responses, go online at MiamiHerald.com/business. And keep an eye out for our live CEO Roundtable event later this fall.

  • 122 South Florida companies make Inc. 5000 list

    Inc. magazine unveiled its annual list of fastest-growing private companies in America on Wednesday, and 122 companies from the Miami metropolitan area made the cut.

  •  
The Fresh Diet's Chief Culinary Officer Yosef Schwartz, left, and Zalmi Duchman in their North Miami kitchen in 2010.

    The Fresh Diet sold to Innovative Food Holdings

    The Fresh Diet, a homegrown national fresh-food delivery company, has been acquired by Innovative Food Holdings, a publicly traded specialty foods company based in Bonita Springs, Fla.

Miami Herald

Join the
Discussion

The Miami Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

The Miami Herald uses Facebook's commenting system. You need to log in with a Facebook account in order to comment. If you have questions about commenting with your Facebook account, click here.

Have a news tip? You can send it anonymously. Click here to send us your tip - or - consider joining the Public Insight Network and become a source for The Miami Herald and el Nuevo Herald.

Hide Comments

This affects comments on all stories.

Cancel OK

  • Marketplace

Today's Circulars

  • Quick Job Search

Enter Keyword(s) Enter City Select a State Select a Category