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.