Originally Posted by
chococat
This seems like a cash grab for the Aman group, possibly in response to some dire financial circumstances. Does anyone have an idea (I understand that nobody really knows for sure) what would happen to the gift card value if Aman gets sold or goes into some sort of reorganization? There's some fine print in the T&C about redemption being up to the new leadership if this happens, but I'm not sure how this might play out in real life.
I'm thinking of getting a large-ish card to pay for part a trip that I've scheduled in late 2021. 20% is a significant savings to me, but I'd hate to lose the entire value if things go sideways. I've already confirmed that I can use the gift card on an existing reservation (not a "new" reservation) and in combination with a promotion that includes a complimentary driver/guide for >7 night stay (an existing promotion).
I'd really appreciate your thoughts. Thanks in advance.
I cannot speak with 100% certainty about the future, but only to my experiences in the US:
1) If Aman were to be sold, then the acquiror would have to honor this. If not, then you would have a legal claim against the legal owner and could sue them.
2) In bankruptcy (in the US), the Company would not have to honor it, though they likely would. If someone were to acquire Aman out of bankruptcy, they would likely honor these as well (though they do not have to). If they did not, then you would have an unsecured claim in the bankruptcy courts and be entitled to some % of your claim. FWIW, when the firm I worked at bought a company out of BK last year, we honored all of the Groupon certificates that had been sold prior to our bankruptcy even though legally we did not have to. Generally, the financial cost of honoring these is much less than the reputation risk the Company would take.