The owner of a building where DusitD2 hotel sits has been dealt a blow after the Court of Appeal dismissed a plea by I&M Bank seeking to stop the sale of the premises over a botched deal.
The Court of Appeal ruled on Friday that the placing of Cape Holdings under administration by the lender was a well-calculated move resorted to by the bank “in thinly veiled collusion as one last ditch attempt to aid Cape Holdings in its spirited quest to evade execution of the long-outstanding decree”, once all room for legal stratagems had been exhausted.
