Sale of Jolly Beach Resort hits major road block

The content originally appeared on: Antigua News Room

CABINET NOTES:

A new buyer has stepped forward to purchase the Jolly Beach Hotel and is willing to do so by purchasing form the substantive owner—The Government of Antigua and Barbuda.

A new wrinkle, however, has been introduced by the former owners of the Jolly Beach Property and AOB Bank.

It appears that a charge of $15,000,000.00 was placed on the Jolly Beach property unbeknownst to the other creditors owed by the Jolly Beach Property.

It has made the sale of the hotel unlikely until such time as a court has determined on the invalidity of the claim now being made against the property.

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Editor