POINTE BLANCHE:--- Despite its long term efforts to reach a satisfactory amicable solution with its development partners, Zebec Development N.V. (Zebec) was today forced to file a claim for over $100 million against the St Maarten Harbour Group of Companies (the Harbour) and CEO Mark Mingo for their breach of contract.
The claim stems from the Harbour's repeated failure to meet its contractual obligations as defined under various agreements signed by Harbour CEO Mark Mingo with Zebec for the development of the Harbour Village project in the cruise terminal.
The Harbour Village was intended as a collaborative effort of Zebec and the Harbour to develop the currently vacate parcel of land adjacent to the cruise piers into an unrivalled mix of shopping and entertainment. Designed and inspired by a former Disney World creative team and featuring a variety of entertainment experiences, the Harbour Village was destined to make St Maarten Harbour the flagship port of call in the entire Caribbean.
The joint effort to develop this exciting new facility was to be fully funded by Zebec with the Harbour simply generating many years of income from a revenue sharing agreement. The Harbour Village would provide economic benefits well beyond the long term financial rewards for the Harbour. By creating an unparalleled tourist experience the Dutch Harbour Village would help increase cruise passenger expenditures in St Maarten, and provide both much needed employment opportunities and a new source of tax revenue for the country.
Agreements with the Harbour have been entered into over the last four years with CEO Mark Mingo who continues to set up road blocks to this mutually beneficial new development. Despite an enormous commitment of time and the expenditure of several million dollars in research and development, Zebec is no closer to seeing this project become a reality.
"While we regret having to resort to this measure we feel we have no alternative but to seek remedies in the Court." Says Zebec's managing director Luis Gioia.
Zebec Development N.V. Press Release