by Emmanuel H. Joseph
Government Information Service
The recent case between the Government of Dominica and the Shangri-La International Development Holding Limited in the East Caribbean Supreme Court of Appeal in the court of the British Virgin Islands came to a conclusion on Wednesday, 11th November, 2009. According to court documents, the case was brought by Sino Union, and sought rectification of the registers of members of Shangri-La International Development Holding Limited (Shangri-La). Sino Union owns a forty percent (40%) share in Shangri-La providing them with common ground to apply for rectification under section 43 of the Business Companies Act of 2004.
Court documents revealed that in this case, it was unusual that Sino Union did not apply for rectification it its favour, but in favour of the fourth defendant, the Government of the Commonwealth of Dominica by asking that the register of members be rectified to record the transfer from the third defendant, Rich Victory Investment Limited to the Government of Dominica, twenty-five thousand, five hundred (25 500) shares in the capital of Shangri-La, effected by an instrument of transfer dated 12 February, 2006.
The judgement issued in favour of the Government of Dominica can be found here (pdf document) on the Government of the Commonwealth of Dominica Website..
The Attorney General of Dominica, Francine Baron-Royer, described it as a historic and important decision for Dominica.
“This is a historic and important judgement for Dominica. After many years of controversy, the Government of the Commonwealth of Dominica is now, for the first time, the majority owner and controller of the Layou River Project. This is a significant development, and vindicates completely the willingness and courage of Prime Minister Roosevelt Skerrit who swore to an affidavit in support of the Government and subjected himself willingly to two (2) days of cross examination by one of the leading commercial QC's from London.”
(Click to view and listen to the Attorney General's press statement)
The hard copy of the Attorney General's statement can be found under the press releases section of the Government's website.
Other parties to the proceedings were Shangri-La as first defendant, Mossack Fonseca and Company (BVI) as second defendant. Mossack Fonseca is Shangri-La’s registered agent. It is believed that with this ruling, the much beleaguered Layou River Hotel project will be free of all legal ramblings and new efforts can now be sought to resume development. |
