2024-10-21 16:48:00
From the Cayman Islands to the Normandy countryside, former tech guru Osama Ammar’s business goes from bad to worse. According to our information, the financial difficulties of Le Domaine d’Ablon, the hotel complex located near Honfleur (Calvados) in which the co-founder of the incubator The Family had invested, have indeed worsened.
On Wednesday 16 October, the Lisieux Commercial Court declared the opening of liquidation proceedings without continuation of the activity of Cottage Consulting, the company that owns the majority of the five plots of land on which the hotel complex is located. Enough to hinder the exploitation of the Domaine d’Ablon, where a total of around 10 million euros of investments were made, most of which were paid for by Christophe Delaune, the creator of this “sanctuary of elegance and tranquility”.
These half-timbered buildings are not so peaceful. They are at the center of the accusation of embezzlement of which Ammar has been the subject since 2022 by his former collaborators, Nicolas Colin and Alice Zagury: according to calculations by the Finexsi company, on behalf of the Prosecutor’s Office, at least 1.5 million euros, of the 3-4 million invested by Mr. Ammar in this tourism project, he was entrusted by investors to buy shares of SpaceX or Airbnb, which were never delivered.
In total the entrepreneur is accused of having stolen 4.5 million euros. The court in the Cayman Islands, where the damaged debt mutual funds were registered, sentenced the French-Lebanese businessman in December 2023 to pay 7.3 million euros in damages. A decision contested by Ammar but confirmed in August by the Cayman “high court”.
True enigma
In 2019, the tech influencer fell in love with Le Domaine d’Ablon, a luxury accommodation built from a cow meadow by Mr. Delaune. He had participated in the real estate project, already short of money, and had built a “small villa” of 550 square meters on a 5-hectare estate. To do this, Ammar created a simplified joint stock company (SAS) called Thelema, of which he holds almost 57% stake through his Hong Kong holding company Fabuleo, together with partners, including Florian Douetteau, the company’s founder of artificial intelligence. -up Dataiku, or the pianist Sofiane Pamart, one of the artists of the opening ceremony of the Paris 2024 Olympic Games.
Thelema owns 24.5% of SAS du Domaine d’Ablon, which in turn is a 100% shareholder of Cottage Consulting. The latter, placed in receivership in June 2019, failed to honor the last payment deadline in June. Its liquidation promises to be a real headache.
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