It certainly looks like everything should be approved without incident at Friday's hearing, but I've giving up making predictions about this case. I'll wait and see what happens with the rest of you.
Tuesday, September 9, 2008
Diablo Grande full story posted online
I've got to rush back to the office to help get Wednesday's paper out, but here's my story on today's Diablo Grande hearing. It includes just about everything I know about World International (and its apparent ties with the much less secretive Laurus Corporation), so be sure to check that out.
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Laurus Corporation has web hits for the sale of a high end hotel in Cancun in Dec 2006. http://www.hotel-online.com/News/PR2006_4th/Dec06_Laurus.html
Laurus and a San Diego company announced a 12 story apartment development in the Hillcrest area of SD in July 2007.
http://www.bigbuilderonline.com/industry-news.asp?sectionID=363&articleID=521936
Laurus' principal is:
Jean-Paul Szita who describes himself as President and CFO since 1999.
Other names are Andres Szita, Philipp Kainbacher, and recently Marcus Roberts.
Roberts describes himself as "Director Equity Markets" but continues a relationship with Jewish National Fund in Commercial Real Estate.
Kainbacher has web citations as a lecturer at hotel funding seminars in industry trade mags
The reported address for the 3rd *St* and University apartment does not exist. A 3rd Ave and University intersection does exist, but a street level view does not show any reconstruction at the time the area was photographed.
http://maps.google.com/maps?ie=UTF8&oe=utf-8&client=firefox-a&q=san+diego+hillcrest+apartment&fb=1&ll=32.751478,-117.16228&spn=0.006425,0.009034&t=h&z=17&layer=c&cbll=32.74826,-117.16276&panoid=8hBnRXd9VDAWFJ8CAPu1JA&cbp=2,0,,0,5
According to court documents filed yesterday, Laurus is acting on behalf of World International — which would make sense, considering Laurus' role as a facilitator of such transactions. That in itself doesn't give much insight into who World International is, but all signs seem to point to it being a legitimate resort company. Hopefully more real information will come out next week.
The rumor is Laurus Corporation and World International will develop Diablo Grande into a new destination, a mega project. More to come after the closing.
Laurus has declined comments and said it will issue a press release after the closing Oct 2, 2008.
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