Mubasher: Kingdom Holding Company (KHC) and Ashkenazy Acquisition Corp., who have been jointly working to buy New York’s historic Plaza Hotel have sued the hotel’s majority shareholder for “allegedly reneging on an agreement that gives the group the right to match another offer,” Bloomberg reported.

Earlier in May, Ashkenazy and Saudi prince Alwaleed-backed KHC exercised their right of first refusal on a $600 million offer for the iconic New York hotel in an attempt to purchase it on their own.

Sahara US Corp, which owns 70% of the hotel, asked for a second deposit and has reportedly been in talks with other parties, a complaint filed in New York state court Friday showed.

Sahara US is tied to Sahara India Pariwar, which has been trying to sell its stake in the New York hotel on the back of troubles by its chairman, Subrata Roy, who has been ordered to return billions of dollars to investors.

The legal battle is a new facet to the years-long attempted sale for the 111-year-old hotel.

Earlier this month, Sahara agreed to sell the Plaza to Shahal Khan, founder of Dubai-based family office White City Ventures, and Kamran Hakim, founder of New York landlord Hakim Organization.

Together Shahal Khan and Kamran Hakim agreed to pay $600 million in a deal that had been slated for completion on 25 June. The two were reportedly in talks to use the hotel to launch a global brand.

Ashkenazy and KHC each own 12.5% of the hotel, where the popular 1992 movie Home Alone 2 was shot. The two companies said in the complaint that Khan and Hakim “have been soliciting financing for the purchase with Sahara’s knowledge, which has interfered with their own ability to seek funding to purchase the hotel,” Bloomberg said.

Ashkenazy is said to be willing and able to fund the deal if KHC is unable to contribute, a person with knowledge of the matter told Bloomberg on condition of anonymity.

“Ashkenazy and Kingdom asked the judge to compel Sahara to sell them the property, as well as to execute an appropriate agreement for the sale on the same terms as the initial deal granting them right of first refusal. They also asked for a court order declaring a second deposit isn’t required,” the news agency added.

The Plaza Hotel, which is located at the corner of Fifth Avenue and Central Park South, has a had various prominent owners over the years, including now-US President Donald Trump, who had to sell the hotel to a group, including Alwaleed, over 20 years ago due to a bankruptcy.