![]() The relevant text of the Clause reads:ġ.1 In consideration of the premises, of the covenants and agreements contained in the Agreement for Sale and of the sum of $1.00 paid by the Purchaser (the receipt of which is hereby acknowledged) the Vendor shall grant the Purchaser a two year option (“the Option”) to acquire 10 acres of leasehold land currently leased by the Vendor from the Crown (“the Additional Property”) as shown outlined in red (for identification purposes only) on the Plan annexed hereto (“the Plan”) provided that the Option shall be exercisable by the Purchaser only if the Purchaser has completed the sale and purchase as contemplated by the Agreement for Sale. The consideration for the grant of this Option was the sum of US$1.00 and there was a clear proviso that the Option was exercisable by Respondent only if it completed the sale and purchase as contemplated by the Agreement for Sale. Under clause 1.1 of the First Variation, the Applicant agreed to grant the Respondent an option to acquire certain lands in Virgin Gorda held by the Applicant on a long lease which had been granted by the Crown (the “Option”). On 9 th June 2004, the Parties entered into a variation agreement (the “First Variation”). on or by 8 th May 2004) unless the Parties agreed otherwise. Under clause 8, the time for completion was to be 75 days after date of the Original Agreement (i.e. The expressed purchase price was US$12 million. This evidence sets out the factual background to these proceedings.Īt the centre of this dispute is a written agreement entered into by the Parties herein on 23 rd February 2004 (the “Original Agreement”) for the sale of freehold property comprising the yacht harbor in Virgin Gorda (the “Marina”) as well as a number of businesses that were operated there. The grounds of the Application are set out in the First and Second Affidavits of Kisha Frett in support of this Application. Ellis J: By Amended Notice of Application filed on 16 th March 2018, the Defendant (Applicant herein) applied to the Court pursuant to Part 15.2 (a) of the Civil Procedure Rules (CPR) and/or the inherent jurisdiction of the Court, for an order that summary judgment be entered in favour of the Applicant requiring the Claimant (the Respondent herein) to pay the costs of this Application and of these proceedings, to be assessed, if not, agreed within 14 days of the date of judgment. Smith, Counsel for the Claimant/RespondentĬlaire Goldstein and Mark Rowlands, Counsel for the Defendant/Applicant VIRGIN GORDA YACHT HARBOUR HOLDINGS LIMITEDĪppearances: Mr. Electronic Litigation Filing and Service Procedure Rules.ECSC E-Litigation Portal User Information.Legal Profession Disciplinary Procedure Rules (St.Non Contentious Probate Rules and Administration of Estates.ECSC Civil Procedure (Amendment) (No.2) Rules.ECSC (Sittings of the Court) Rules, 2014.Court-Connected Mediation Practice Direction Forms. ![]() ![]()
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