A Canadian company is selling personal property and construction equipment at the unfinished Pond Bay Resort at Chocolate Hole.
An advertisement in the online V.I. Source is headlined, "Court Authorized sale of certain Assets of the Pond Bay Club."
Alvarez & Marsal said it is conducting a sale this week equipment including two electric generators, seven Jeeps, construction materials, furniture and fixtures, a concrete plant, as well as constriction and shipping trailers. A detailed listing also includes light bulbs, doors, Bose sound systems, WiFi routers, a 48' Aquos flat screen TV,doors and desks.
In other words, it looks like everything's for sale if it isn't nailed down.
Work at the fractional ownership resort ended more than a year ago when the developer, First American Development Group/Carib LLC, ran into financial problems.
There were reports that a German financial institution held the prime mortgage on the project and was trying to transfer rights and permits on the project to another developer. The VI government resisted a transfer.
Site now says sales for Friday have been cancelled. Wonder what’s up?