A little background on Kronos:
KUALA LUMPUR, July 8 (Bernama) -- The name Charles Morais may not yet ring a bell in Malaysia but the Ipoh-born entrepreneur is well on his way to becoming one of the leading hoteliers in the United States.
Spurred by the success that he has been notching up since he began acquiring hotels in the U.S. in 1999, his Atlanta-based Kronos Hotels and Resorts last month bought a portfolio of 16 more hotels with 3,100 rooms.
And with 26 hotels already under his chain, mainly in the East Central region of the U.S., Kronos Hotels has announced plans to acquire 12 other properties outside the U.S. by the end of the year, including two hotels in Morais' native country Malaysia.
Kronos Hotels Public Relations Manager Amira Shahnaz Ahmad Shahizan told Bernama from New York: " Morais wants to expand his hotel business in Malaysia, where he is now in the process of purchasing two new hotels which will be ready to open in 90 days".
Amira Shahnaz, herself a Malaysian and who works in Kronos Hotels' branch office in New York, said not only Morais wanted to expand his hotels to Malaysia but he would also promote Malaysian food and tourism worldwide.
http://roncyberprince.blogspot...laysian-charles.htmlADAMS PRODUCE, INC. v. KRONOS RESORTS AND HOTELS INC AND X Y AND Z
Plaintiff: ADAMS PRODUCE, INC.
Defendant: KRONOS RESORTS & HOTELS INC
Case Number: 3:2008cv00232
Filed: June 6, 2008
Court: Florida Northern District Court
Office: Pensacola Office [ Court Info ]
County: Escambia
Presiding Judge: District Judge M CASEY RODGERS
Referring Judge: MAGISTRATE JUDGE MILES DAVIS
Nature of Suit: Other Statutes - Agricultural Acts
Cause: No cause code entered
Jurisdiction: Federal Question
Jury Demanded By: None
Amount Demanded: $6,518,000.00
http://dockets.justia.com/dock...00232/case_id-50375/There were other hotels with the same problem with checks bouncing.
It may be that Kronos over expanded and is using cash from properties to keep afloat or a milking of assets before dumping the properties under bankruptcy. The mafia used to do this quite often.