Delayed Hotel Auction: Dutch Government Postpones Sale of Million-Dollar Luxury Hotel Over Tax Debts
Here's the Rewritten Article:
The Geissens Stall a Planned Auction of Their Luxury French Hotel
Looks like the Geissens family has bought some time to hang onto their lavish French Riviera hotel after filing an appeal. The French government claims they owe over seven million euros in unpaid taxes with allegations of shady tax advantages.
Initially scheduled for a Friday morning auction, the luxury hotel's fate now hangs in the balance as the appeal process begins. The local Draguignan court has put the brakes on the auction temporarily, but it's not a permanent stay.
Long months could pass before the appeals court delivers its verdict. If found guilty, another auction could happen. Back in April, reports surfaced about the Geissens' hefty tax debts, totaling 7.015.469,99 euros, including overdue taxes from 2010 to 2022, plus fees and penalties. The tax authority of the Var department is demanding the payment.
The Geissens stand accused of unlawfully capitalizing on tax incentives for the hotel. In France, properties sold within five years of purchase can qualify for certain tax breaks. However, the Geissens' hotel – dubbed "Maison Prestige Roberto Geissini" – has been in the family since 2008, presumably not qualifying for the incentives.
With the legal machinery whirring, only time will tell if this high-end retreat will change hands or remain under Geissens control. Keep an eye on updates from legal and news sources for the latest developments.
- What happens to the Geissens' luxury French hotel, now temporarily stalled from auction, remains uncertain as the appeals court deliberates on their case.
- The allegations against the Geissens involve unfairly capitalizing on tax incentives within the hospitality industry, specifically with their hotel, Maison Prestige Roberto Geissini.
- The finance sector is keeping a close eye on the Geissens case, its outcome potentially setting a precedent for similar controversies in the business world.
- The Geissens' planned auction has been postponed indefinitely until the legal proceedings are finalized, leaving the fate of their hotel in limbo.
