Today the NATION has reported that law suits have been filed by UK billionaires Lucian Grainge and Aidan Heavy. Those who have followed the Four Seasons Project know that this is an OLD matter which has resurfaced. The NATION article quotes denials by Mia Mottley and Professor Avinash Persaud, principals for the project, that any NEW action has been filed against the project. Further, the matters are said to being handled amicably between the lawyers. Again this is an attempt at yellow journalism given the emotional nature of the Four Seasons transaction for Barbadians, SHAME!
BU understands there were some meetings held recently where property owners and other key stakeholders of the Four Seasons Project were present. While we are not privy to the finer details of what was discussed, we have learnt that the property owners are not happy with the Mercedes driving chairman Avinash Persaud. He would have done well to keep the likes of Sir Philip Green and other property owners happy because if they are not the Four Seasons Project is likely to continue to struggle.
The property owners led by Sir Philip – who controls Simon Cowell’s investment – have given Persaud 30 days to produce all the documentation on the project, after which a new company will be created and certain parties removed from the board. It appears there is some disagreement about how a certain 60 million dollars was used to liquidate debt.
BU further understands the influential and very rich Sir Philip Green has expressed his appreciation at the effort made by the government of Barbados to resuscitate the Four Season Project. Such confidence by property owners is expected to translate in a bigger representation on the board of the reconstituted company. The good news for Barbadians is that the property owners will commit to complete the villa aspect of the project with the hotel funded from the IDB drawdown which has already been approved.
The meetings of late served to clear communication lines which appeared to be clogged and should have been the responsibility of the omnipresent Avinash Persaud. BU has not been able to confirm if proposed changes include the replacement of Persaud’s Queen’s College alumnus Mia Mottley who is one of the lawyers on the project.
It is no secret BU has been at the vanguard of cries against the investment of NIS funds in the Four Seasons Project. While our position has not changed, we are happy to learn of the renewed commitment by Sir Philip Green and other heavy roller investors without which the Four Seasons Project is doomed.