Abandoned giant hotel complex near Playa Encuentro

Can anybody tell me the reason a large, partially completed hotel complex near Playa Encuentro (near Cabatete) is apparently abandoned? The location is choice and millions must have already been invested in it. From the looks of the weeds etc. growing in and around the site, it must have been years since construction was discontinued.

Re: Abandoned giant hotel complex near Playa Encue

Developer had problems with financing when a big Montreal bank pulled out of the project in 1990-1991. Currently there is a multimillion dollar lawsuit vs. the bank in Canada. Also, the resort was largely presold as a condominium and there have been understandable problems getting 200+ owners together. Our law firm represents the developer.