Paradise Found says ‘dormant subsidiary’ was dissolved, but project is proceeding, and demands correction by REAL News
Attorneys representing Paradise Found LLC are denying statements published in a REAL News article today, December 15, and are demanding their retraction by this medium.
The article reported that “Paradise Found … has gone into liquidation” and referred to the official Gazette of December 9, 2021, as its source.
The article stated further that “… Australian investor James Packer withdrew on account of personal challenges” and that “there are claims that it has been acquired by the Peace Love and Happiness (PLH) developers.”
In rejecting the article, Henry & Burnette, the firm representing Paradise Found, says the facts are as follows.
“Earlier this year Paradise Found restructured dormant subsidiary entities, whose names are ‘Paradise Found (Palmetto) Ltd.’ and ‘Paradise Found (Barbuda) Ltd.’
“Each of these entities were dormant since their formation and, thus, Paradise Found elected to dissolve them.”
The company further states, through the law firm, that “Paradise Found has not gone into liquidation, Mr. Packer remains actively involved in this project, the development is proceeding apace and there has not been any sale of any part of the development to any other entity.”
The management of REAL News acknowledges that it failed to recognize and publish the word “Palmetto” in its reporting on the company that went into voluntary liquidation, as per the official Gazette.
REAL News also wishes to point out that its reporting on the Paradise Found Project relied on statements made by Prime Minister Gaston Browne, who has been the pre-eminent spokesperson on this development since 2015.
In June 2018, PM Browne reported that “Packer had written to us about two years ago indicating that he was withdrawing from the Paradise Found project.”
Browne said, then, that Packer claimed “the rhetoric of the Barbudan people was damaging his global brand.”
Further, in early January 2019, the Prime Minister again reported on the project, stating – almost three years ago – that it would start in 60 days.
His comments were captured in a local article that spoke to “a new partner” having been found for Paradise Found “to take over from billionaire James Packer who pulled out of the project last year.”
The Antigua Newsroom article cited related comments posted by Browne on his Facebook page. It identified the new partner by name, describing him as the operator of “520 small luxury hotels across the world,” and reporting that he had been “persuaded to join the Paradise Found Project.”
