Thread by @oculusaye

How Richard Branson Is Trying To Save His Virgin Empire, 26 May 2020

And how might COVID-19 impact on Virgin Hotels and India Buildings, Edinburgh?

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Virgin Hotels San Francisco delayed by 3 years, opened in 2019, closed in March 2020. Its owner, Jay Singh, Paradigm Hotels Group, terminated 20 year hotel management agreement citing: "gross mismanagement"; "affiliation with a brand that is essentially non-existent"; etc

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Richard Branson suing Jay Singh for $20 million breach of contract + legal costs, which in turn is subject to a counter-claim citing five action causes including:
📢 FRAUD
📢 BREACH OF CONTRACT
📢 BREACH OF COVENANT OF GOOD FAITH
📢 BREACH OF FIDUCIARY DUTY
📢 ACCOUNTING

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Jay Singh wants the lawsuit tried by jury, which may yet happen as Richard Branson failed to dismiss the counter-claim, when in Oct 2020 the Superior Court of the State of California, County of San Francisco ruled otherwise on all five action causes. E.g. re FRAUD/...

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Re FRAUD: "The FACC adequately pleads constructive fraud".

Ultimately, Jay Singh is seeking damages in unrealised profits and lost property value on the back of proving allegations of gross mismanagement and failure to deliver on the promise of a national hotel brand.

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Of course, the red carpet welcome of Richard Branson, and Raul Leal, CEO Virgin Hotels, as India Buildings 15/04445/FUL's hotel operator in Feb 2018 may yet end up to bite the bums @Edinburgh_CC like Cllr Gavin Barrie!

#saveECL's #RIGHTtoLIGHT

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Back in Feb 2018, Cllr Barrie's "huge coup for Edinburgh" was that India Buildings would be brand Virgin Hotels' first hotel outwith the US, to open in 2020.

Of course like most of its ten promised hotels, six are unbuilt, and one's closed for litigation (San Francisco).

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