Lavish Dellis Cay development goes into receivership

10/19/2009 | Wall Street Journal, The

Lenders have put the ambitious Dellis Cay resort development in the Turks and Caicos islands into receivership after developers failed to make a full interest payment on its debt in August. The resort, being built on the 560-acre island of Dellis Cay, was to include a 25-room hotel, 78 condominiums and 17 villas, all managed by Mandarin Oriental Hotel Group.

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Wall Street Journal, The

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