Auction Reprieve for the Geissens' Hotel
High-end haunt experiences an unexpected twist at its paranormal accommodations
Phew, relief for the Geissens! Their posh hotel won't be heading to the auction block just yet, as reported by "Bild". They got some good news on Thursday evening – an appeal was filed against the auction, which suspended the planned auction.
But, let's not get too excited. This appeal merely postpones the auction, it doesn't cancel it. The appeals court needs to weigh in on the legal legitimacy of the initial decision, which could take a few months' time. Once they've ruled, we'll see whether a fresh auction is on the cards.
Back in March, Robert Geiss shared some insights during an interview: "Like most property owners in France, we're dealing with excessive demands from French authorities, and we've been battling for our rights for years."
What's this Debt Problem All About?
According to "Business Insider", the Geissens' tax debt amassed to a whopping 7 million euros between 2010 and 2022, including default interest and penalties. The French government is hot on their trail, aiming to claim this considerable debt.
The tax claims revolve around the company Whereland Real Estate SA, one of several companies under the leadership of Robert Geiss, based in Luxembourg. Apparently, Geiss maintains that their hotel is not involved in the whole situation. He explains that the hotel is just a tenant, and the lease is still in effect.
In 2008, the Geissens snagged the property. As per French law, they should have sold it within 5 years to make the most of specific tax benefits for real estate transactions.
Worth a PeekIf you're curious about the Geissens, this Instagram post offers an early glimpse of their struggles in France:
- Despite the temporary reprieve from the auction, the Geissens' tax debt amounting to 7 million euros between 2010 and 2022, including interest and penalties, remains a significant concern, with the French government seeking to claim it.
- The tax claims are associated with the company Whereland Real Estate SA, one of several companies under the leadership of Robert Geiss, based in Luxembourg, though Robert Geiss asserted that the hotel is not involved in the issue and is simply a tenant as per an ongoing lease.
- In 2008, the Geissens purchased the property, and according to French law, they should have sold it within five years to take advantage of specific tax benefits for real estate transactions, but they did not do so.
