Have no horse in this race, but I think the new Alegria owners are wrong because it's bad for business. When you have 2300 disgruntled parties, the word gets around to avoid the place. They should have come up with a better solution agreeable to all parties. If you can't generate revenue during high season how long can you hold out unless you have really deep pockets. It's not the same as US bankruptcy, more like stealing from those who trusted the bank. Caravanseri owners were equivalent to stockholders who had no representation in the final judgement. In this country the bank would have been sued and held liable along with the previous owner.