Turks & Caicos Civil Recovery Up To $19.5 Million
The Turks and Caicos Islands [TCI] civil recovery programme began in December 2009 to regain the assets of the TCI taxpayer that were obtained improperly, and it has now risen to $19.5m, with land recoveries now at 2,508 acres.
In 2008 the British Overseas Territory’s administration was suspended and power was transferred to the UK-appointed Governor following allegations of widespread corruption. In 2012, power was handed back and the Progressive National Party prevailed at the polls.
Law firm Edwards Wildman was appointed to work closely with the Attorney General and the TCI Government to pursue the civil recovery cases.
Laurence Harris [pictured] of Edwards Wildman, provided an update on the scale of the programme, outlines progress on recoveries and lays out the likely timetable going forward:
“We have now opened 62 case files, an increase on last year’s figure of 51. Our work covers a wide range of matters, some well known from the Commission of Inquiry Report; others not identified by the Commission of Inquiry and some which have only come to light since then. These claims cover the recovery of land, damages, or both. As well as claims for corruption and fraud, we have claims for breach of contract, for unjust enrichment, for recovery of unpaid Stamp Duty and for other civil causes of action.
“This time last year we had recovered nearly $2.4m in cash and around 900 acres of land. Both of those figures have risen very substantially over the last twelve months. The cash already paid to the Government, or agreed to be paid, has now risen to $19.5m and land recoveries are now 2,508 acres.
“And there is still much to do. Although several claims have concluded, we are awaiting judgments on two significant cases, and several more are still yet to go to trial. We have claims for many millions of dollars in damages and for well over a thousand of acres of land, all still to be heard by the TCI Courts,” said Mr Harris.
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Now let’s just wait and see the “who…what and where along with when” after an investigation by our British ruler i.e. Governor and the ruling political party, One Bermuda Alliance has been completed…We may have our very own “Mr. Misick / or associates…”