By NEIL HARTNELL

Tribune Business Editor

THE EMERALD BAY RESORT'S immediate past owners must bear the burden of proving they are entitled to claim a $3 million deposit relating to a failed deal to sell the Exuma-based property, the Court of Appeal ruled yesterday.

The appellate body backed a Supreme Court ruling by Justice Bernard Turner, who found that the London-based office of Japanese insurer, Mitsui Sumitomo Insurance, plus the PricewaterhouseCoopers (PwC) receivers it appointed, should be the plaintiffs in the dispute with a potential purchaser that is seeking to reclaim the deposit it paid into escrow.

The $3 million deposit, plus accumulated interest, is currently being held in ...

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