TORONTO, Canada — HMB Holdings again failed in the courts earlier this month to frustrate the development of the Half Moon Bay resort, one of the prime tourism resort locations in Antigua and Barbuda.
Justice Paul Perell of the Ontario Superior Court in Canada dismissed outright a case brought by HMB Holdings against the government of Antigua and Barbuda, and awarded costs amounting to EC$65,770.
HMB Holdings initiated the case against the government of Antigua and Barbuda in the Ontario Superior Court Canada in May 2018, seeking monies that are still in dispute in a judicial proceeding before the Eastern Caribbean Supreme Court.
In May 2014, the Privy Council in England fixed compensation for the government’s 2007 acquisition of the property at Half-Moon Bay at US$26.6 million. Between 2015 and 2017, the government paid HMB Holdings more than US$23.8 million, even though the property had been abandoned by HMB Holdings since 1995, depriving the country of a resort on one of its most attractive tourism locations.
Even though a dispute over the sum due to HMB holdings, under a complex financial formula, is under review in the Eastern Caribbean Supreme Court, the company initiated its action first in the Court in British Columbia, the headquarters of Replay Resorts to which the Antigua and Barbuda government sold the half moon bay property in December 2015, and then in the Superior Court in Ontario.
In a detailed 16-page judgement, delivered on March 4, in Ontario, Justice Paul Perell agreed with the government of Antigua and Barbuda’s motion to strike out the case and dismissed the case brought by HMB holdings, awarding the government full costs.