Through its subsidiary, Tagla Espana, which manages its Spanish interests, the Chinese group HNA has filed a complaint against NH Hotel Group, which removed four directors last June that represented HNA's 30% interest in the hotel group, claiming that its acquisition of Carlson Rezidor constituted a conflict of interest.
The Chinese group, through Tagla Espana, has built a dossier to contest the decision and attack it in Spanish court. A complaint has just been filed in Madrid to cancel the shareholders' revolt and reinstate the four directors excluded from the board. It only considers that the conflict of interest argument cannot be used and that it constitutes a concerted attempt by the investment fund Oceanwood Capital and its allies from Hesperia, to force them to buy back their shares at the top price by launching a takeover bid for all the capital.
Since the coup de force on June 21, Federico Gonzalez Tejera's position as general manager was shared within a triumvirate including, Ramón Aragonés, director of Operations, Rufino Pérez, sales manager, and Beatriz Puente, financial manager. Now it is up to the Court to decide who will take back control over the group.
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