Tribunal de Commerce chooses Qatari package
Monaco Matin newspaper reports that the Tribunal de Commerce in Nice has chosen a Qatari investment package to turn around the Vista Palace Hotel.
Located on the hill above Monaco and Roquebrune Cap Martin, the five-star hotel was put into receivership in February this year.
Hundreds of candidates tendered investment offers, but the former Emir of Qatar's package of 30.5 million euros and a guarantee to employees beat off all other competitors.
Unusually, the offer was submitted after the deadline, which may provoke an appeal.