|Chief Justice Sir David (far left, wearing wig) and his brother Peter Simmons were formerly defendants in a case brought by Nelson Barbados Group Ltd.
This post discusses pages 132 to 150 of the cross-examination of the Chief Justice.
The deposit mentioned in Simmons’ S.B.G. offer was $1 million without strings. On the other hand, the purchase agreement specified that BDS $400,000, a fraction of the $1 million would be forfeited. S.B.G. forfeited in 1993, but Simmons’ letter of resignation was dated a year later, and registered 14 years later!
S.B.G. was reportedly involved in a major deal long after it lost its deposit!
“A front page article in the Sun, dated Saturday, September 3rd, 1994, revealed that the deal agreed to by politicians Thompson, Simmons and Greaves encompassed three golf courses, a five star hotel and over a thousand condo units - all to be built on the disputed lands of Kingsland.” Keltruth link
Was the deposit $1 million?
Read this quote from a letter signed by the same David Simmons (click in the box to read the complete letter and see Simmons’ signature):
That is signed documentation showing that the buyers were offering to deposit a million dollars. Did the prospective purchaser, S.B.G., end up with with better terms that it originally offered?
Was the deposit $400,000?
Hear what the “Architect of the Carribean Court of Justice” (page 132) had to say about the deposit paid by S.B.G. to Kingsland (page 147) (Philip Greaves is a former Deputy Prime Minister of Barbados):
The discrepancy between the $1 million and the $400,000 is explained in the purchase agreement, but there is something else in the above testimony that needs to be explained.
“A deposit was paid and a deposit was lost. S.B.G. lost $400,000. That was the end of it. … I had nothing more to do with it.”
The evidence we have does not appear to agree with this testimony from the Chief Justice.
- SBG forfeited its deposit around the middle of 1993
- Simmons’ letter of resignation from the board of directors of S.B.G. DEVELOPMENT CORPORATION was dated September 7th, 1994. (Registered on August, 23rd, 2007!)
- On September 2nd, 1994, Finance Minister David Thompson (now Prime Minister of Barbados) initialed an agreement that brought together S.B.G., Kingsland and Canadian investor, Graham Brown.
Simmons’ resignation occurred after the S.B.G.-Kingsland-Brown deal, a deal that would have apparently used offshore money to acquire a large area of real estate at bargain basement prices. Both dates of Simmons’ resignation (written September 7th, 1994 or registered August, 23rd, 2007) occur after the deal was initialled on September 2nd, 1994. This does not appear to agree with Simmons’ assertion that after the deposit was lost: “That was the end of it.“