Vintro Hotels & Resorts purchased Maui Sands for $7 million in September 2018. The company’s CEO, Inderjit Grewal, said he planned to put millions into improvements.
But in March, Grewal was sued by Sinmier, Llc., for allegedly failing to make payments on the loan they provided to Vintro to purchase Maui Sands.
Sinmier wants to receive more than $7.3 million — the loan, plus interest and court costs — the mortgage to be foreclosed and the property sold. The lawsuit was filed in Toledo’s U.S. District Court.
The company also filed for a receiver to be placed in charge of the property because of concerns it was reduced in value due to neglect with reports of vagrancy and vandalism taking place.
Grewal denied the building was neglected. He claimed it was secured and being renovated and mitigated, but on Wednesday Perkins Township condemned the property after an inspection.
Grewal claimed the lawsuit was a family matter — Sinmier is managed by his relative Pargat Grewal — and would be resolved soon. On Tuesday, Grewal denied the claims in the lawsuit and filed the counterclaim, which alleged Sinmier violated the loan contract.
According to court documents, as part of the deal, an additional $2 million was held in escrow for improvements. The money was to be dispersed once the deal closed and the conditions were met.
Grewal claims the money was never dispersed and Vintro has spent about $1.3 million on improvements and costs. Grewal’s attorney, Steven Potter, also filed a motion to dismiss the lawsuit because Sinmier, Llc., isn’t registered to do business in the state with the Ohio Secretary of State.
“Sinmier did not (and does not) have the capacity to bring suit in Ohio against (Vintro and Grewal) at the time that it filed this action,” Potter wrote in the motion. “Since Sinmier is not registered as required by Ohio law, this court should dismiss this case rather than taking the case to a judgement that may be rendered invalid.”
The court vacated Monday’s evidentiary hearing on Sinmier’s motion for a receiver until a judgment is made on whether the company has the ability to file a lawsuit in Ohio.