The following press release on Cap Juluca was issued by the Hickox family on Tuesday, April 30, 2013.
On 30 April 2012, a specialist High Court Judge gave the Joint Liquidators of Adam Aron’s company Leeward Isles Resorts Limited permission to sell certain assets which form part of Cap Juluca Resort to the Hickox for US$10.3 million.
The Hickox completed the purchase and were given possession on 4 May 2012. The Hickox also acquired all the Cap Juluca Resort villas and land, save for 4 ½ villas.
The Brilla Group appealed against the Judge’s order and the Court of Appeal after hearing arguments concluded that the judge had gone about the process in a confusing manner.
The Court of Appeal was careful to say on the record that the Hickox bear no blame and reinforced two concessions made by Brilla’s counsel, Robert Levy QC, that their ruling will not directly affect the actual sale transaction concluded between the Joint Liquidators and the Hickox, particularly because the Joint Liquidators had not needed the permission of the Court to sell the assets in any event.
The Hickox are still the lawful owners of the 3 1/2 villas and the Operating Rights to Cap Juluca Resort which they purchased along with other assets as part of the Private Treaty sale.
The end result is that business continues as usual at Cap Juluca Resort.
The Hickox family is operating Cap Juluca and has invested large sums of money over the last 11 months to bring the Resort back to a luxury standard.
(Published without editing by The Anguillian newspaper.)
