AG Reveals SDC Land Sales

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Wednesday, 11 July 2012 02:30

By caribarena news

Antigua St John's - Attorney General Justin Simon has countered statements made by the former power of attorney for the Stanford Development Company Andrea Stoelker regarding the delay in severance payout to hundreds of former Stanford employees in Antigua by revealing that the company has netted millions in land sale recently.

Stoelker had blamed the government for failing to honor an $18 million court ruling handed down recently by the court of appeal ordering the Inland Revenue Department to pay ABST returns to the company.

But the Attorney General has revealed exclusively that the SDC has recently completed sale on exactly seven parcels of land at Cedar Valley Springs owned by Stanford Development Company ltd.

The Transfer Insurance for these agreements were all signed by Barbara Streete, Director of the SDC, according to the AG, and countersigned by attorney Hugh Marshall Jr. as secretary.

The sales include Parcel 1149 (0.2 acres), which was sold on July 15, 2011 for $550,000;
Parcel 1164 (0.2 acres) that was sold on July 18, 2011 for $600,000;
Parcels 1165  (0.2), 1166 (0.25), 1167 (0.25), & 1203 (0.25) that were sold on July 23, 2010 for $844,720.
On July 23, 2010, Parcel 1169  (0.2) was sold for $810,000.

See related stories:

Andrea Stoelker SDC Power of Attorney Revoked

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7 Comments In This Article   

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@Springs Resident

coch » 2012-07-16 19:40

(1) That's not going to happen until you take them to court.
(2) Andrea Stoelker should be deported from Antigua, there are no excuses now.

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coch

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Where is the ABST money?

yt » 2012-07-14 09:10

Justin is sidestepping the issue here. The ABST situation in this country is a farce. Government never pays back ABST and a lot of people are suffering due to this. Answer the question that was asked Justin, where is the ABST your Government should have paid a long time ago? We're not idiots.

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yt

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realy got to be kidding

rupert j. » 2012-07-12 15:31

Really why should you be paying for lands that should not have been sold in the first place and sold for pepper corn prices, the government acting on behalf of the people should not pay a dime for those land or give them back exactly what they paid in the first place not a penny more you guys still have the cloak of the swindler hanging over your eyes, time to come out into the light.

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rupert j.

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RE: AG Reveals SDC Land Sales

Really » 2012-07-11 10:32

Another question for Justin is when are you going to pay for the land the new airport terminal is being built on?

It is unfathomable that a government would commence building on land it does not own and continue to do so without paying for it.

Another case of EXPROPRIATION?? ??

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Really

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What We Sow ....

Stanford Employee » 2012-07-11 07:51

The lady did say the revenue from sale and lease rental. The amount of severance for SDCL and other companies amounts to nearly $12M according to them and earlier announcements on the matter. The amounts quoted aboce cannot pay severance. As the lady said, the money is used to deal with litigations (plenty of them, and without which there would have been no assets remaining today. Marshall has represented well, and is paid well).To show these plots sold is not proof of any abuse of power. Yes. Why is government involved?... Who brought the revocation, especially as Justin said it would have happened in advance????

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Stanford Employee

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RE: AG Reveals SDC Land Sales

Springs Resident » 2012-07-11 07:33

Hopefully now that Stoelker is gone that those she sold the properties to will pay their home owners dues as required by the Covenants of the Springs.

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Springs Resident

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RE: AG Reveals SDC Land Sales

STEVE » 2012-07-11 04:31

The question Justin is: IS YOUR GOVERNMENT HONORING THE COURT RULING THAT WAS HANDED DOWN OR NOT? HAVE YOUR GOVERNMENT APPEAL TO THE PRIVY COUNCIL? The U.P.P. must go and you all can't go soon enough.

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STEVE

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REFRESH
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