Bank's 1.1m award upheld

Tue, Aug 24th 2010, 11:00 PM

By NEIL HARTNELL

Tribune Business Editor

A $1.11 million award in favour of the Bahamas Development Bank (BDB) has been upheld by the Court of Appeal, finding that the bidder to take over a 2,000 acre farming venture had "completely misunderstood" the fact the institution had no ability to grant Crown Land.

The appeal against the original Supreme Court verdict by Porky's Farms Ltd and Bernard Dorsett, relating to the 2,000-acre SugarLand Farm on Abaco, "could not succeed", appellate president Dame Joan Sawyer found, as the BDB had no power to grant Crown Land - a power and responsibility vested solely in the Government's executive branch (the Prime Minister and Cabine ...

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