Many of you are awaiting your refunds from the Executive Inn. The date for the closing had been changed to April 2, but now I understand that is not a firm date either.
The refund money has to be paid by Mr. Singh - he is the one who cashed your checks. That money for the refunds will not be available until the closing has been held and some of the monies that would be paid to Mr. Singh are put into an account so the refunds can be issued.
Both AQS and the new buyers, Space Coast Hospitality, are as eager to get the sale of the hotel finalized as you are.
I'll keep you updated as new information is received.
Bonnie Browning
Executive Show Director
4 comments:
I hope money is set aside in an escrow account of some sort. I don't trust Singh, and if it's left up to him to send us refund checks we'll never see our money!
I guess I'm wondering why the date keeps getting postponed? If it's because Singh doesn't want to close because of the money he will have to put in a trust, I'd say just serve him with legal papers. He is waiting the new company out and does not plan on signing until they forfeit OUR money. We probably won't see it anyway! Hind sight is always great but advanced monies and room registration should not have been taken unless the final paperwork was signed.
Closing is contingent on the buyer securing financing....which apparently hasn't happened yet. It doesn't have anything to do with Singh. It's all about the lender at this point.....and we all know how well lending is going these days!
I expect AQS understands the gravity of what has transpired at the old Executive Inn. As for me, I will not contribute, as I have in the past, to the support of the museum. If I receive my money back from the hotel (or Singh), I will reconsider.
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