Not so fast!
That’s what the owners of the long-stalled Four Seasons Resort project at Black Rock, St Michael are telling Government, which is pressing ahead with plans to “sell” the venture so construction can be restarted early next year.
Amidst reports that Government is about to strike a deal with a new buyer, Paradise Beach LLP and Eastern Resorts Limited have sent a cautionary warning to the Freundel Stuart Administration that they must only accept the highest bidder.
Noting that they were still the legal owners and shareholders of the Four Seasons Resort property, the company said Government was also legally required to report all of the proposed offers to them.
In a letter, dated November 25, sent to the permanent secretary of the Ministry of Finance and copied to Stuart and Finance Minister Chris Sinckler, the shareholding companies said “that the Government has a duty of care to the shareholders to achieve the maximum and best cash offer on behalf of the shareholders”.
“As such the Government is legally required to report all offers to the existing shareholders, who as owners are legally liable for all liabilities, including debtors and creditors of the Four Seasons Resort,” the three-page document added.
