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Lawyers Sue Ironwood Developers For $95k Debt
GEORGE TOWN, Grand Cayman (CNS) -- The company that is planning a huge multi-million-dollar resort based around an Arnold Palmer golf course is being sued by a local law firm for an outstanding debt of around CI$95,000. Despite promoting plans for the proposed significant $300+ million development in Frank Sound, developer David Moffitt and Ironwood are being sued for an outstanding legal bill of just under $53,000 for work undertaken by Broadhurst LLC back in 2013 and accumulated interest of just under CI$42,000.
The action filed in Grand Court at the end of last month indicates that the lawyers appear to have been chasing their cash for some time and issued their final demand for the debt in January, almost three and a half years after signing an agreement with Moffitt and Ironwood to do legal work.
The current government has been touting the proposed development as a major project that will stimulated the economy, even though it has made no real headway during this administration, but the developers first raised the idea of a golf-based resort several years before that.
The government signed an MOU with the developers, which offered them duty concessions, and has been in talks for several years about the proposed extension of the East-West arterial to the area, but there has been no deal on how the public-private partnership to complete that road would work.
It’s several months now since the latest news on the progress of the development. Although planning permission for the golf course was granted last June, nothing has happened and there have been concerns that there are no plans for an environmental impact assessment in the area for the planned road extension or the course.