After months of trying to purchase the Anguilla Beach Resort from the liquidators of Gulf Union Bank, we the partners of Mountain West Investments have withdrawn our all cash offer of $7 million. It is apparent that the liquidators, Ray Winder and Graham Garner, have no interest in recouping the creditor's losses.
We have made several offers in writing including depositing 10% ($700,000.00). When it became clear that the liquidators were going to employ any excuse to delay the closing, we were no longer willing to deposit 10%. We then offered an immediate closing with the total amount of $7 million deposited into a third party escrow account. We fully understand that there are governmental approvals needed, but we were willing to place the full amount into a secure account until those were received. Under no circumstances are we willing to deposit money when we believe there is maleficence being committed by the liquidators.
The real losers are the creditors of the failed bank.
I am said, Joe Moore. Several Points: 1. I have been involved with the project for for 29 months. 2. I was willing to place the deposit in escrow over a year ago. Winder and Garner have done everything the can to drag this out. 3. I am no longer willing to place $700,000.00 into an account for a transaction that the other side has done everything possible to stall and delay. 4.I am not bad mouthing "Procedures". I believe the creditors deserve to know their interests are not being served.
I am willing to send the complete press release with dates and the actual e-mails.
Am I trying to put a deal together? I sure am. I believed there was an opportunity to see a project get started, jobs created and people receive the money they are owed.
seattlejoe says...
For Immediate Release
After months of trying to purchase the Anguilla Beach Resort from the liquidators of Gulf Union Bank, we the partners of Mountain West Investments have withdrawn our all cash offer of $7 million. It is apparent that the liquidators, Ray Winder and Graham Garner, have no interest in recouping the creditor's losses.
We have made several offers in writing including depositing 10% ($700,000.00). When it became clear that the liquidators were going to employ any excuse to delay the closing, we were no longer willing to deposit 10%. We then offered an immediate closing with the total amount of $7 million deposited into a third party escrow account. We fully understand that there are governmental approvals needed, but we were willing to place the full amount into a secure account until those were received. Under no circumstances are we willing to deposit money when we believe there is maleficence being committed by the liquidators.
The real losers are the creditors of the failed bank.
Joe Moore
On $7m sale impasse holds up Gulf Union closure
Posted 7 December 2016, 1:44 p.m. Suggest removal
seattlejoe says...
I am said, Joe Moore. Several Points:
1. I have been involved with the project for for 29 months.
2. I was willing to place the deposit in escrow over a year ago. Winder and Garner have done everything the can to drag this out.
3. I am no longer willing to place $700,000.00 into an account for a transaction that the other side has done everything possible to stall and delay.
4.I am not bad mouthing "Procedures". I believe the creditors deserve to know their interests are not being served.
I am willing to send the complete press release with dates and the actual e-mails.
Am I trying to put a deal together? I sure am. I believed there was an opportunity to see a project get started, jobs created and people receive the money they are owed.
On $7m sale impasse holds up Gulf Union closure
Posted 30 November 2016, 5:58 p.m. Suggest removal