CABINET NOTES

The Prime Minister confirmed that the superyacht Alfa Nero, owned by the Government following an Act of Parliament, was sold for US$40 million.

He also informed that the proceeds have been deposited in a Bank.

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.