Title Challenge to Ginn’s Multi-Billion Bahamas Project Defeated
Bahamian Wilbert Bootle and his family had challenged the Certificate of Title granted to Ginn sur Mer site in Grand Bahama’s West End.
Palm Coast, FL – December 21, 2009
Ginn’s ‘critical’ win for $4.9 billion project
Published On:Sunday, December 20, 2009
By NEIL HARTNELL , Tribune Business Editor (Bahamas)
Ginn has won a "very critical" legal battle over a challenge to its ownership of 179 acres vital to its $4.9 billion Bahamian resort project, the Court of Appeal finding that a rival claim to the property was "without merit".
Wilbert Bootle and his family had challenged the Certificate of Title granted to Ginn for the site in Grand Bahama’s West End. The land in question is located at the heart of the company’s mixed-use Ginn sur mer project, and Mr Bootle alleged he and his family had a better ownership claim to the 179 acres via adverse possession.
However, the Court of Appeal found Mr Bootle’s appeal against the original Supreme Court decision to be "clearly without merit", dismissing his action and removing any doubt as to the validity of Ginn’s ownership.
One source familiar with the land situation, speaking to Tribune Business on condition of anonymity, said the 179 acres in question was situated at the heart of the Ginn sur Mer project. Had the Bootle challenge succeeded and a Certificate of Title been issued instead to him, the impact on the proposed development could have been disastrous.
Toby’s Commentary: Based on documentation I’ve seen about the history behind this lawsuit, the verdict seems implausible. Development continues at Ginn sur Mer because an $160 million escrow account was established to assure completion of roads, water, sewer, and one golf course. There is currently no financing in place for vertical construction however. The decision may affect the outcome of two other sur Mer related lawsuits filed in the U.S. against Ginn.
Implausible???
How can the verdict appear implausible? Ginn has only been working on this project for a few years. Are adverse possession laws that much more lax in the Bahamas than they are in the United States that someone can win a claim like this?
Confused
Will someone please help me understand how $160 million in escrow for infrastructure equals the marketed $4.9 billion resort? Something is very wrong with these numbers.
Tainted Profile
Why are Mr. Bobby Ginn’s projects for the most part somehow or other tainted with controversy? Check out Hilton Hesd Is and the Banking Commission there. Also, the annexation battle in Flagler Beach which the residents rejected wholeheartedly. John
Reply to Elaine
The escrow account was never meant to cover the total development cost. The 4 billion plus included condos, villas, a huge condo hotel and casino a second golf course and a marina. Because sales lagged, these were never begun. There is no guarantee they ever will be started.