THE NEW TODAY has obtained the copy of the letter sent by Levera Resort Limited Development (LRLD) to controversial U.S nationals Robert and Randall Oveson ordering them to leave the 256 acre property in the northern parish of St. Patrick and bring an end to their development project in the area.
The June 11, 2019 letter was sent by attorney-at-law, Dickon Mitchell on behalf of Levera Resort to Grenada Citizenship Development Limited (GCDL), the company set up by the Oveson brothers to engage in the multi-million dollar project at Levera.
The two warring sides are now preparing for a bitter court battle following the move by GCDL to file papers in a local court seeking US$19. 5 million in compensation for its losses on the property.
LRLD which is run by British investor Paul Taylor and local businessman, Lyden Ramdhanny has now sold the Levera property to a wealthy Chinese billionaire investor for a reported US$35 million.
LRLD is relying heavily on the constant breach of the payment schedule by the Oveson brothers in defence of its move to take back the Levera property.
THE NEW TODAY reproduces in full the Dickon Mitchell letter sent to the Oveson brothers giving them notice to immediately get off the property:
Grenada Citizenship Development Limited
June 11, 2019
Attention: Robert Martin Oveson
Stephen Randall Oveson
Re: Sale and Purchase Agreement dated 18th March 2016 between Levera Resort Development Limited and Grenada Citizenship Development Limited as amended by the Supplemental Agreement dated 18th November 20l8 (‘Sale and Purchase Agreement’) Loan Agreement dated 18th March 2016 between Levera Resort Development Limited and Grenada Citizenship Development Limited (‘Loan Agreement)
We represent Levera Resort Development Limited, hereinafter referred to as our client.
We refer to that certain Sale and Purchase Agreement and that certain Loan Agreement both of which are dated 18th March 2016 and made between our client and Grenada Citizenship Development Limited (‘GCDL’).
GCDL is and has been, commencing from the closing Date, as that term is defined in the Sale and Purchase Agreement, 18th May 2016, in fundamental breach of the Sale and Purchase Agreement. That breach being GCDL’s failure to pay the sum of$2,500,000.00 on 18th May 2016 as per the terms of the Sale and Purchase Agreement.
GCDL is and has been, commencing from 18th June 2016, in fundamental breach of the Loan Agreement, in that GCDL has failed to pay the Repayment Amount on the Repayment Dates, as per the terms of the Loan Agreement. The effect of which is that the Maturity Date of the loan has elapsed.
Our client, on a without prejudice basis, and without waiving GCDL’s fundamental breaches of the Sale and Purchase Agreement and the Loan Agreement as set out above agreed with GCDL to accept the sum of US $100,000.00 per month, as the default position, on condition that GCDL would, at a minimum, comply with the default position and pay us $100,000.00 per month to be paid to our client no later than the last working day of each month.
GCDL has repeatedly breached that default position and by way of illustration, the payment due for May 2019 remains outstanding.
The Maturity Date of the loan was 18th November 2019. GCDL has repeatedly admitted via several written correspondence to LRDL that GCDL does not have the means or the ability to comply with the terms of the Sale and Purchase Agreement and the Loan Agreement.
In those circumstances, we hereby give you notice, on behalf of LRDL, that the Loan Amount is now immediately due and payable. Should the Loan Amount not be forthwith paid, on behalf of our client, we notify you that the Sale and Purchase Agreement and the Loan Agreement shall terminate, without any further notice to GCDL and our Client shall exercise all its rights pursuant to such termination.
Should the Loan Amount not be forthwith paid, GCDL should forthwith remove all personal items or belongings of its personnel, servants or agents on the property. Should GCDL fail to remove the said personal items or belongings of its personnel, servants or agents on the Property, our Client will bear no liability or responsibility for what becomes of the said personal items.
Please be guided accordingly.
MITCHELL & CO.