Cooper gives Sunset Waters six months to negotiate sale

February 06, 2012 6:46 AM

After Minister Charles Cooper (Traffic, Transport and Regional Planning, MAN) indicated end October that the government will withdraw the long lease of Sunset Waters, the American owners requested him to delay the withdrawal procedure for six months in view of current negotiations with interested buyers.

The government intervened because the complex has been empty for a long time and fallen into disrepair owing to the plundering, and the owners requested a price out of proportion to the value, namely 6 million guilders. Minister Cooper already expressed his doubts whether a buyer would agree to the asking price, considering the current value of the complex of approximately 1 million guilders. As the owners no longer comply with the conditions of the long lease, the government wishes to start the procedure to withdraw the long lease.

“This procedure could take one year before the government proceeds to auction the premises. As the owners are now seriously engaged in negotiations, I’ve indeed decided to give them six months. This could even mean a solution earlier than expected. The main issue is that a solution is found within short”, said the Minister. Sunset Waters is a popular location and frequently visited by inhabitants and seaside visitors. The present disrepair remains an irritating subject of discussion.
 
At the time of the bankruptcy, the owners supposedly had an overdue debt of 6 million. In the past, the owners believed the former Board of Governors was responsible for the bankruptcy because the previously concluded agreements were not honored. It regarded the island territory taking over an old debt from the Coral Cliff Resort to Kodela, lifting of attachments and granting ‘tax holidays’. The Board of Governors denied any responsibility for the bankruptcy and believed the latter was due to poor management.

(Source: National Newspaper Amigoe)

2 February 2012