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Investors accuse Grenada government of agreement 'breaches'
Published on February 18, 2013 Email To Friend    Print Version

ST GEORGE’S, Grenada -- A group of investors involved in marine development in Grenada is reported to be considering legal action against the government.

Caribupdate Weekly said the threat of possible legal action is contained in a document it received titled, “Camper & Nicholsons Grenada Limited Project Agreement and Lease Agreement with the Government of Grenada, regarding Port Louis Marina”.

“Camper & Nicholson claims that ‘breaches’ of the agreement by government are becoming ‘unbearable and are impeding the continued development and operation of the company’s project’,” the paper reported.

“Camper & Nicholsons said despite its efforts there has been ‘no redress’ to its complaints that include the payment of value added tax, and the levying of duties and charges on items, from which the company says it is exempt under the terms of its project agreement.

“The company is warning that if it continues to be ‘ignored’ by various government departments, and there isn’t resolution to the alleged ‘breaches’ by the state, it would have ‘no alternative but to seek redress through the court’,” Caribupdate Weekly said in its February 13 issue.
 
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