Acted as counsel to an American receiver appointed over the assets of a group of companies spanning the BVI to Saint Lucia. The primary assets were a hotel and marina complex in Marigot Bay. The three-year-long receivership required advice on all aspects of law in relation to the operation of a hotel and marina including obtaining operational financing of US $3M and settling of homeowner claims. After ensuring the collection of all the assets of the receivership and the negotiations for the sale of assets were entered into leading to the eventual realization for the benefit of the creditors in the amount of US $14M.
Acted as counsel to the court-appointed receiver over the Caribbean-based assets of a Liechtenstein Establishment and a Delaware LLC valued at US $6M as part of the asset recovery process of an offshore bank put into liquidation by the Government of Dominica. Despite challenges to the appointment and rights over assets raised by the Chicago based receiver appointed by the U.S. Securities and Exchange Commission. All assets were sold for the benefit of the creditors.
Acted as counsel for the receiver and subsequent liquidator of a failed 150-unit luxury resort, with spa complex and restaurants owing debts in excess of US$10M with funds diverted to England and the U.S. Advised on the use of liquidation and the successful implementation thereof to protect the assets of the company from creditors, enable a cross-border liquidation and permit the company to realize the greatest return on the assets.
Acted as counsel for the American receiver of a 500-key resort in Cap Estate. Advised on all aspects of the receivership of Smugglers Cove Resort & Spa, including the obtaining of a protection order from the court to ensure the continued operation of the hotel despite execution proceedings brought by creditors. Negotiated the government’s concessions to ensure purchase of the resort and recovering US $16M ensuring that all creditors were paid.
Completed a short-term consultancy for the World Bank undertaking an assessment of the effectiveness and addressing the legal aspects of Saint Lucia’s insolvency and workout system including providing recommendations for the improvement of same. Thereafter working with the Government of Saint Lucia to bring into being a new insolvency statute, modeled on the Canadian Bankruptcy and Insolvency Act, which is to act as a model for other islands in the Eastern Caribbean.
Served as Legal Consultant to the International Finance Corporation in its role as advisor to the Saint Lucia Air and Sea Ports Authority regarding the Public Private Partnership (PPP) of the Hewanorra International Airport. This PPP will involve the financing, construction and operation of the island’s international airport, and will see over US $250M spent by the concessionaire over the life of the concession.
Acted as counsel for the financiers to the Government of Saint Lucia on a US $35M lease-backed syndicated credit facility for the purchase and development of a business centre for the Government of Saint Lucia.