SXMElections.com

>PHILIPSBURG:--- The Democratic Party is seriously concerned about the claim of US 100 million dollars, filed recently against the harbor group of companies. The risks associated with this claim can pose a serious threat to the survivability of this group of companies. When a company like the harbor has litigation claims pending against it, its bond holders, which includes the Central Bank of Curaçao and St. Maarten, should be utterly concerned.
"The Minister of Finance should have the Central Bank assess the risk of this claim and what this could mean for the Harbor group of companies and the Central Bank", said Roy Marlin, DP faction leader in Parliament. .
This litigation claim could also have an effect on the external financiers of the harbor such as RCCL and Carnival Cruise Lines Cooperation.
We should ask themselves, "How could the CEO of the harbor, knowing that the company entered into a legally binding development contract with a third party, not uphold the rights of the third party?"
"We need to get to the bottom of this as soon as possible", stated the faction leader of the Democratic Party in parliament.
While one company is filling litigation against the harbor group of companies the same harbor group recently purchase a parcel of land between Chesterfields Restaurant and Bobby' Marina parking lot. When one drives by there is a sign erected on the lands which states that the owners of the land "are looking for developers and any one interested can contact the owners", which owners happen to be the harbor group of companies. This brings to mind the question, "Why would the harbor purchase such a property and not have a development vision, while they have created a development vision together with the owners of Zebec NV, who have now started litigation against the harbor group for not allowing them to execute the development agreed upon by both parties?" It does not sound or smell right!
The Democratic Party warns the management of the Harbor group of companies and its supervisory board of directors to rethink this strategy and do whatever is necessary to avoid claims such as the one by ZEBEC NV becoming a threat to not only the harbor group of companies, but the government and people of St. Maarten as well.
The harbor group of companies must sit at the table with this party, just like they must have done in coming to the agreement in the first place.
In the past few days, the leader of the Democratic Party has spoken out publicly against actions by government-owned companies that could also threaten the (financial) position of government, given recent court rulings.
In numerous reports, government-owned companies are mentioned as needing a watchful eye by the government of St. Maarten.
It is hoped that all information will be made available, so that the shareholder (government and people of St. Maarten) can assess the long term effects of this litigation on the company and the government.

Roy Marlin mentioned 1 time

Democratic Party [DP] mentioned 5 times
Helping Our People Excel Association [HOPE] mentioned 0 times