The Government of St. Vincent and the Grenadines now has the right to take possession of 100 acres of beachfront land at Chatham Bay in Union Island, following a court battle lasting close to eight years.
The announcement was made by Prime Minister Dr. Ralph Gonsalves, during a News Conference this morning.
The Prime Minister said the lands have been forfeited to the Government of St. Vincent and the Grenadines, by way of operation of the law, through the Alien Land Holding Regulation Act.
He said the law was supported by Judgments of the High Court, the Court of Appeal and a Consent Order of the Privy Council, dated November 14th, 2013.
The Prime Minister gave a detailed overview of the case, which he said involved the reclamation of the patrimony of St. Vincent and the Grenadines. He explained how the land got into the hands of the Investors.
The Prime Minister explained that the two companies, which were owned by Americans, paid over four hundred thousand EC-dollars for the land at Union Island.