Sunday, January 8, 2012

More Trouble At Four Seasons In 2012

"The Four Seasons Resort project seems to have hit another snag.
The Times reported yesterday that two billionaire investors, music titan Lucian Grainge and oil mogul Aidan Heavey, have filed court action locally against the developers, Paradise Beach Limited, demanding their money back.
The Times has also stated that three other celebrities, including Simon Cowell, the producer of the international music competition The X-Factor, could also be in danger of losing their deposit investments of over BDS$90 million each.
“Both Mr Grainge – dubbed the “killer shark” after engineering last year’s surprise £1.2 billion (BDS$3.7 billion) takeover of EMI’s recorded music business – and Mr Heavey have separately filed claims in a Barbados court demanding that their deposits are returned,” the newspaper said.
"

Source: http://www.nationnews.com/articles/view/resort-suits/

4 comments:

  1. Update:

    Billionaire investors have no major legal issues with the stalled and cash-strapped Four Seasons Resort project.

    That’s according to developers Paradise Beach Limited, who have taken issue with a Page 3 report published in yesterday’s SUNDAY SUN under the headline Billionaire Investors File Court Action To Recoup Deposits.

    Paradise Beach Limited has labelled the SUNDAY SUN report, an extract from British daily The Times, as “untrue, unsubstantiated and misleading”.

    The Times reported over the weekend that two villa owners – music titan Lucian Grainge and oil mogul Aidan Heavey – had filed court action against the developers, demanding their money back.

    In a Press release, Paradise Beach Limited made it clear that Grainge has taken no legal action and has denied the report outright.

    They said Grainge has met with Minister of Finance Christopher Sinckler to support the plans for the completion of the project.

    Paradise added that Heavey made a claim related to the elevation of his villa many months ago and they expect an amicable settlement on this issue shortly.

    Source: NationNews.com

    ReplyDelete
  2. Frederick moses osadjereJanuary 20, 2012 at 8:05 AM

    The four seasons imbroglio is really embarassing to Barbados image considering sales of top notch properties to the rich and famous contributes a lot to the island's economy. My major worry is that the longer it takes to get the project completed the more the give negative news grows. The developers should more to reasure other NIS investors in the other member countries if the negative response from those places is anything to go by.

    ReplyDelete
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