A lawsuit has been filed since by the former owner(s), seeking to claim the proceeds.
That frivolous lawsuit, the Cabinet agreed, will not prevent the government from making good on the obligations incurred while the vessel was under its ownership; and, will not deter the administration from investing the overage in the construction of a hotel.
The Cabinet agreed that an investment in a tangible asset will serve as reminder of the immense difficulties which this lawful seizure and sale caused the Antigua and Barbuda people and government.
Please note the following amendment as aligned with our discussions: The Alfa Nero proceeds were utilized to retire debts associated with the vessel and the balance was utilized to reduce government debt.
The original decision to reserve the surplus after repayment of the debts associated with the vessel to build a hotel has been scrapped.
