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PB2022-037 Court Ruling Against Ansary: Mullet Bay Belongs to Ennia

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No. 2022-037

Court Ruling Against Ansary: Mullet Bay Belongs to Ennia

Willemstad/Philipsburg - As part of Ennia’s restructuring, the Centrale Bank van Curaçao en Sint Maarten (CBCS), on behalf of Ennia Caribe Investments B.V. (ECI), has removed Ansary as a director of SunResorts and appointed new directors in his stead. Sun Resorts is a subsidiary of ECI and owner of Mullet Bay on Sint Maarten, which is one of Ennia’s key assets.

Ansary tried to block his removal from SunResorts and attempted to appoint Palm and Derby as co-directors. Ansary claimed that SunResorts had never been lawfully transferred to the Ennia group. That is entirely at odds with Ansary’s own consistent previous claims, as well as with various financial statements and SunResorts’ shareholder register.

As in other lawsuits between Ennia and Ansary et al., today the Court ruled against Ansary et al., upholding all of the CBCS’s claims. Ansary, Palm and Derby are barred from posing as SunResorts directors, under penalties of up to USD 10,000,000 per injunction.

Mike Alexander and Geomaly Martes, the new directors appointed by the CBCS, are tasked with restoring order at SunResorts and initiating the process of selling and/or developing Mullet Bay, with the proceeds accruing to the benefit of Ennia’s policyholders.

Willemstad, October 7, 2022

Last updated: 19.06.2024 11:06