Casalinova says lawsuit won’t delay Oxford hotel
Representatives from Casalinova Development Group say a lawsuit between its owner, Joseph Casalinova, and Mechanics Savings Bank won’t delay a hotel project across from the Oxford Casino.
The Sun Journal reported that Patrick Casalinova, a spokesman for the firm, said the project is still on schedule to break ground this year. He said the company is nearing an agreement with Mechanics Savings Bank over allegations that Joseph Casalinova’s firm Building Solutions had failed to repay a $3.5 million commercial loan due in full last summer. After winning a judgment against the company in September, the bank alleged that the company’s leaders had hidden the true wealth of Building Solutions though “false audited financial statements.”
The company is working on the 80- to 120-room hotel project for the Quincy, Mass.-based GIRI Hotel Management, which owns hotels in Brunswick, Freeport, Augusta and Waterville. The paper reported that GIRI is financially responsible for the project.
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