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PHILIPSBURG--Democratic Party ((DP)) Member of Parliament Roy Marlin says his party wants Finance Minister Martin Hassink to get the Central Bank of Curaçao and St. Maarten to assess the risk for St. Maarten Harbour Group of Companies as a result of a US $100 million claim against the company and its Chief Executive Officer Mark Mingo by Zebec NV.
"The risks associated with this claim can pose a serious threat to the survivability of this group of companies. When a company like the harbour has litigation claims pending against it, its bond holders, which includes the Central Bank of Curaçao and St. Maarten, should be utterly concerned," Marlin said in a press release.
This pending litigation claim could also have an effect on the harbour's external financiers such as Royal Caribbean Cruise Line (RCCL) and Carnival Corporation.
"How could the CEO of the harbour knowing that the company entered into a legally binding development contract with a third party not uphold the rights of the third party. We need to get to the bottom of this as soon as possible," said Marlin.
Marlin also questioned why the harbour group purchased a piece of land that used to be part of Bobby's Boatyard and then erect a sign to seek a developer. He said this points to the company having no vision for the land.
Marlin, on behalf of (DP), warns the harbour's supervisory board of directors and management "to rethink this strategy" and do whatever is necessary to avoid claims such as the one by Zebec NV becoming a threat to not only the harbour group, but to Government and the people of St. Maarten. "The Harbour Group of Companies must sit at the table with this party, just like they must have done in coming to the agreement in the first place."
The MP hopes all information on the claim will be made available, so that the shareholder (government and people of St. Maarten) can assess the long term effects of this litigation on the company and the government.
