St. Maarten Private Eye

Further to my previoius warning about this project. I am able to provide some background on what has transpired over the last couple of years.
The family still own the property but entered into an extended lease agreement with a developer several years ago. The orginal lease agreement was expedited with the help of Tendall Holdings and the developer was unable to meet the crediotors requirements and was forced to turn over the lease to his creditor (Name to follow later). The family still receive lease payments but cannot touch the property.
More recently Steve Smith and a group ( Names will Follow) entered into an agreement with the creditor to develop the property for a near 50 - 50 share of the future profits. The group has been busy trying to find equity partners to help in the development of the property and as far as I know have been unsuccesful so far. Several major local contsruction companies and realtors have been approached but have declined the offer. (I have intentionally left out their names)
The very slow clearing of bush on part of the property now is strictly a dog and pony show to entice creditors to invest in this project. No permits have recently been applied for or granted.
The real Estate Boom has reached its peak and is on the decline. Add to that the number of projects already underway and more already scheduled to begin in the next year and this project must be considered a risk at best. If you add shaky financing and character issues to the mix when considering the viability or investment opportunities of this project then the result can only be a disastor.
To be continued.