Gov’t may not spend any money to acquire Toad Hall Estate
The Virgin Islands government may have found a way to acquire the Toad Hall Estate property without having to fork out any cash to the company that owned the area.
This is according to Premier Dr Natalio Wheatley who gave the update on the matter at a press conference with the local media on Friday. In late 2019, the Cabinet – then led by Andrew Fahie – approved the purchase of 5.5 acres of real estate located within The Greater Baths National Park.
The purpose was for the expansion of The Baths on Virgin Gorda. The government had announced the planned acquisition was an investment that should see prosperous results in the environment and tourism product of the territory.
Nearly three years later and the process is not complete. However, with the passing of the owner of the property, the Premier said the government has discovered a legal process that returns the land to the government.
“I had the benefit of having a discussion with the former minister for Natural Resources, Labour & Land Honourable Vincent Wheatley and of course, Toad Hall is in his constituency in the Ninth District and just as a means of an update, of course, Honourable [Melvin] Turnbull wouldn’t have had the benefit of that particular update as yet. We discovered when seeking to purchase Toad Hall that it was actually owned by a company that had gone – that’s been struck off and therefore, we actually had to go through a process, a legal process, of having it returned to the government of the Virgin Islands without actually having to pay any money at all,” the Premier said.
“It was owned by a company that was struck off and when those companies are struck off, generally, they returned to the government for where the company was registered and considering it’s an asset in the BVI. A legal process is ongoing right now and should be completed shortly,” Dr Wheatley added.
The Premier was asked by a member of the local media whether the government planned on compensating the direct family of the deceased owner as the negotiation process dragged on for a long time. It was during that time that the owner died.
“Well, considering your question, it seems to be a legal matter. And I’d probably just caution myself from answering. But certainly, perhaps that’s something that privately they can discuss with the Minister for Environment and with the ministry and the Attorney General’s chambers,” Dr Wheatley answered.
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Such a microcosm of how the BVI Government operates! Make a deal, drag it out long enough, guy dies, keep the family hoping something will happen, tell them “all is ok”, then find a way to procure it for free because the company has been struck off by your very own Financial Services.
Way to keep people encouraged in dealing with the BVI Government on any matter.
I do believe that the company would have to be struck off for quite a few more years than is noted before Government can claim that ‘honey pot’. Until then the family will have to pay a high price to get it back in good standing.
Even after that, it could go to the courts whom may well take a pretty bad view of these kind of guerilla tactics under the circumstances!
Seems a bit like how the Government is trying to take all the Beef Island land too.
is the correct word for this property ‘acquisition’.
Doesn’t seem morally or ethically right. Is that really how you want the government to run?
Let’s hope the Government does better with this site than they have with Prospect Reef.
If the company is struck off for non payment of government fees, couldn’t anyone who wants to go in to the Registry, pay all the outstanding fees and take ownership? Thus owning the assets perhaps? Struck off is not the same as liquidated I believe.
Poor fool doesn’t know what he is talking about. Shut your mouth if you don’t understand the concepts.
A company is struck off when it has not paid fees for more than 7 years (huge error on the family’s part). However can be reinstated by the Court and paying outstanding fees which will cost around $15-$20,000, a tiny sum for 5.5 acres of land at The Baths. If the Company is not reinstated the land vests with the Government. Its naive and duplicitious to say the land belongs to the gov free of cost.
You are WRONG! A company is struck-off if it does not pay its government license fee at the registry for any particular reporting year. If the company remains struck-off for seven consecutive years then it is deemed ‘dissolved’. A struck-off company can be restored at any time within that 7 year period by paying all outstanding fees/penalties to the registry. In this case, if the company is simply struck off and not dissolved I’m not sure what Sowande is talking about as the family would only need to have it restored to good legal standing by paying requisite fees. There’s probably a lot more to this story than is in the article.
correct, and once restored it is deemed never to have been struck.
govt should get some legal advice here
Spot on.
Wheatley let me be straight with what I’m hearing.The administrator died as if to say years ago.,Mr.wheatley Steven Green bust died years after you, andrew and the likes came and tried to mislead us.Tell the truth not hog wash sick,&tired of your bulls**t.Tell who owns Andy’s Chateau as vincent said cargo,passengers will be seperated in months up to now.Chateau still have occupants ,who collects the rent plus bevis refused to saybthe price for chateau plus the land adjacent.You guys just just makes a hogs stomach sick
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