- Thread starter Fernandez
- Start date
DR Lawsuit
This appears to be about Michael Lee-Chin, the guy who sued the DR govt. after getting thrown out of running the Duquesa landfill.
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I haven't read an ICSID dispute since my law school days. Thank you for sharing.Case Details | ICSID
icsid.worldbank.org
I'm guessing it refers to the golf club and the golf course. Could be interesting.
Speaking of auctions, it was announced a couple of days ago that Bienes Nacionales announced they have collected more than 29 MM pesos from public auctions so far this year, which includes vehicles, properties and other items.
Bienes Nacionales recauda RD$ 29,581,000.00 en Subasta Pública
Santo Domingo.- La Dirección General de Bienes Nacionales vendió la suma de RD$ 29,581,000.00 en la primera subasta pública del año, en 151 ofertas de activos fijos no financieros descargados de 76 instituciones públicas, dentro de las que se encuentran los Ayuntamientos de Baní y Santo...
I have no idea where the coming auctions are announced.
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over 730,000 sq mtrs of parcel including MCC, Club House,, Unsold Lots, Electric installation, water etc...
The first lien holder receives US$7,411,000.00 from proceeds. The second lien holder who is forcing the embargo receives US$3,200,000.00. US$10,611,000 plus all in. There are other issues currently facing MCC, residing in the Supreme Court where they are appealing a USA Verdict which the DR courts have already legitimized totaling over US$15MM (funds due first lien holder which would be reduced by the auction amount received. )
The rentas internas auctions amount to US$548,000.00 about the value of a decent home in MCC.
At least it is a start.
The first lien holder receives US$7,411,000.00 from proceeds. The second lien holder who is forcing the embargo receives US$3,200,000.00. US$10,611,000 plus all in. There are other issues currently facing MCC, residing in the Supreme Court where they are appealing a USA Verdict which the DR courts have already legitimized totaling over US$15MM (funds due first lien holder which would be reduced by the auction amount received. )
The rentas internas auctions amount to US$548,000.00 about the value of a decent home in MCC.
At least it is a start.
The Judge in San Pedro has moved the auction to July 13th in San Pedro. Metro provided a court ruling document that invalidates the second lienholder's claims as fundamentally "unfounded". This person has invested in Cost Blanca, the San Pedro disaster at the mouth of the river and somehow secured a judicial mortgage on Metro Country Club, and unrelated entity. The first lien holder continues to pursue the Supreme Court hearing in Santo Domingo concerning the USA court awards.