Sale of Pelican Resort declared null and void
PHILIPSBURG--The Court of First Instance on Tuesday declared null and void the disputed December 16, 2010, auction of Pelican Resort and Club.
In the court case on the merits, the former owners of Pelican Resort, now Simpson Bay Resort, successfully challenged the legality of the auction, which was called after the owners of the resort fell behind with their mortgage payments.
Lender Quantum Investment Trust (QIT) auctioned off the resort in a public auction on which it submitted the only and winning bid and became the owner of the resort, after which QIT transferred ownership to Simpson Bay Resort Owner Company B.V Read more
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