Wide Confirms SDC Land Sales

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Thursday, 19 July 2012 02:30

By caribarena news

Antigua St. John's - Liquidator Marcus Wide has countered statements made by Attorney for Stanford Development Company, Hugh Marshall Jr. Marshall stated that the parcels of land had not been sold for cash, but had actually been used in settlement transactions from previous court rulings.

Wide however told Caribarena.com that at least two of those properties, located in Cedar Valley, were indeed sold without objection from him. These properties include parcel 1149 (0.2 acres), which was sold on July 15, 2011 for $550,000 and parcel 1164 (0.2 acres) that was sold on July 18, 2011 for $600,000.

“There were properties in Cedar Valley and we had not objected to their sale. These were sold outright to private individuals,” Wide said.

Regarding other properties, the liquidator explained that those transactions took place prior to his and Hugh Dickenson’s appointment and they therefore have no information regarding the sales and also have no authority to request any details on such deals.

“All those transactions were made before our freeze order. They took place before we had any authority,” Wide said. “Our authority at SDC weighs solely on transactions that have occurred after the protective order.”

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8 Comments In This Article   

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RE: Wide Confirms SDC Land Sales

Pellucid » 2012-07-20 02:26

So, way de mony gorn? Wide and **son fees? GOAB "Debts"? SIB severance?

I'll bet US dollars against Antigun CDs that the victims don't see a cent!

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Pellucid

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RE: Wide Confirms SDC Land Sales

GoodJobBob » 2012-07-20 01:58

No matter the details, the bottom line is the GOAB, or their enablers, Stolker, Marshall, Wide, **son, Cort, King, et al. will somehow dissolve the money and the victims will get nothing.

Typical Antiguan behavior.

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GoodJobBob

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RE: Wide Confirms SDC Land Sales

writer » 2012-07-19 12:28

had it been a settlement Tenman the liquidators would have said such. He did not. he said it was a sale. if you took the time to read the piece properly and consider the information that does not only conform to whatever motive u have. then u would also notice that the liquidator pointed to the designated account (for which oversight is provided by the liquidators themselves) that the proceeds from those private sales were deposited to. and, like other transactions from which money is deposited there, the SDC has access to those funds for the day to day operations of the business.
now, i would hate to believe that the company would want to access an EMPTY air-filled account to operate a business with recurring debts and over 100 employees (according to the former power-of-attorn ey holder)

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writer

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RE: Wide Confirms SDC Land Sales

tenman » 2012-07-19 10:22

Writer the article stated:
Quote:

“There were properties in Cedar Valley and we had not objected to their sale. These were sold outright to private individuals,” Wide said.

How can you conclude that means:
Quote:

so when the liquidators say they know of and approved AT LEAST TWO private "cash" sales (outside of those that were clearly settled) then its a clear contradiction of facts

An outright sale does not mean its a cash transaction. It simply means that the property is now fully owned by the buyer. Are you now saying that the litigator stated they were cash sales? Also note that a private person could also have litigation against SDC and this could have been an act, as Marshal claims, to settle that litigation.

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tenman

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correction?

writer » 2012-07-19 09:41

what marshall said was the NO monetary transactions were made AT ALL. he didn't say SOME. he said NONE. so when the liquidators say they know of and approved AT LEAST TWO private "cash" sales (outside of those that were clearly settled) then its a clear contradiction of facts.

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writer

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correction

tenman » 2012-07-19 08:29

Quote:

Liquidator Marcus Wide has countered statements made by Attorney for Stanford Development Company, Hugh Marshall Jr. Marshall stated that the parcels of land had not been sold, but had actually been used in settlement transactions from previous court rulings.

Writer what Marshall was saying was that it was not a cash sale not that it was not sold. Its a similiar idea of what is happening with APUA and SDC where the land sale would be used to settle debts SDC has to APUA

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tenman

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RE: Wide Confirms SDC Land Sales

Seriously? » 2012-07-19 03:31

Almost $US 200,000 for plot less than a quarter acre? Good Job Mssrs Wide and **son. I doubt there will be sales at that high a per acre value for a long time to come!

Too bad little of that money will get to flow back to the investors.

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Seriously?

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RE: Wide Confirms SDC Land Sales

GoodJobBob » 2012-07-19 03:09

Wide and **son seem to have a lot to be occupied with selling off Sir Allen's holdings in Antigua to hand over to the GOAB? (what's up with Guiana Island?)

So are why are they wasting investor's money traveling up to the US to beg for more? Especially when Antiguans will get 100 cents on the dollar leaving pennies for the actual victims?

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GoodJobBob

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