POINTE BLANCHE--The Harbour and Zebec Development have reached what parties called an “amicable solution” over the development of the Dutch Village project at the Port.
Parties did not disclose the amount of the settlement reached in a joint response to questions posed by The Daily Herald on the matter. The parties claimed that the settlement agreement “is governed by non-disclosure clauses.”
In August last year, Zebec Development filed a legal claim for more than US $100 million against St. Maarten Harbour Group of Companies and its Chief Executive Officer (CEO) Mark Mingo for alleged breach of contract concerning the development of the Harbour Village project in the cruise terminal.
“It is in nobody’s interest to battle each other out for a long time in court. We had our differences, but in good consultation with Zebec, we found a sustainable solution acceptable for both parties. The Port wants to focus on new developments, which are not only important for the Port, but as well for the community of St. Maarten,” CEO of the Port Mark Mingo said.
Mingo said in the statement that the Port is busy negotiating with “another interested party” that wants to develop the Dutch Village area and expects to conclude these negotiations “within short.”
The claim filed by Zebec last year, stemmed from the Harbour's repeated failure to meet its contractual obligations as defined under various agreements. Zebec had said it was to fully fund and develop the project, while the Harbour Group simply would generate "many years of income from a revenue-sharing agreement."
Zebec had accused Mingo of setting up roadblocks despite agreements and commitments in place for the project. The company said it was left with no alternative other than to commence legal action.
The Harbour Village was intended to be a collaborative effort to develop the currently vacant 13,000-square-metre parcel of land adjacent to the cruise piers, into "an unrivalled mix of shopping and entertainment" that would include, among other things, restaurants, bars and a lazy-pool. Zebec said it had a long-lease on the land. The Harbour previously had promoted the project through brochures and the local newspapers.
