Expropriation in Antigua & Barbuda

After sixteen months of power, The Government of Antigua & Barbuda, led by the United Progressive Party under the stewardship of the Honourable Baldwin Spencer, has once again sent mixed signals on its adoption of international good practice with regard to foreign direct investment.

It took a torrid, ill-tempered debate lasting six hours for the Parliament to ratify a decision of the Cabinet to return the Half Moon Bay Property to its rightful owners, without pre-conditions. In return, H.M.B. Holdings Limited is being asked to drop its Appeal to Her Majesty’s Privy Council for the hearing of a Judicial Review into the forced acquisition process commenced by the previous administration.

The dropping of this Appeal has been previously discussed and agreed to by both sides, should an out-of Court settlement be reached. As such, it poses no problem to the resolution of the matter.