Saturday, November 14, 2009
President of Sino Union reacts to favorable BVI court ruling
By Claudine Moore
A court in the British Virgin Island have ruled in favor of Sino Union and the government of Dominica in a case brought by Felix Chen of Sino Union, in which he sought to get government’s stake in the Shangri-la to be restored.
Shangri-la was a company formed to develop the Layou River Project and was managed by David Hsiu, former Dominican Ambassador to China. The court’s ruling gave a 51 percent stake in the company to the government of Dominica, and a 40 percent stake to Sino Union.
In response to the ruling, Felix Chen, President and CEO of Sino Union made the following statement.
“ I am very pleased with and welcome the decision of the Eastern
Caribbean Supreme Court delivered yesterday 11th November 2009 in the British Virgin Islands, which recognizes Dominica as the 51% shareholder in Shangri-la, the company formed to develop the Layou River Project.
The decision resolves the rectification claim brought by my company Sino Union to protect the interests of the Dominican people in Shangri-la, and to resist the efforts of Mr. David Hsiu and his company Rich Victory to halt the Project.
The decision has finally cleared the way for us to engage in an active
partnership with the Government of Dominica and Prime Minister Skerrit to
develop the Layou River Hotel Project.
This project represents a significant opportunity for new jobs, tourism, and commerce for the people of Dominica. With this in mind I am looking forward to presenting plans for the project to the Prime Minister and his Government at the earliest possible date.
The frustration of the project, which has been perpetrated until now by
Rich Victory and Mr. David Hsiu as Dominica’s former Ambassador, is a major
disincentive to potential investors in Dominica.
I am confident the Prime Minister will ensure that activities of this type will not be allowed to happen again. I am gratified that Justice Bannister took note of my integrity and business experience in his written decision.
Indeed, seeing this lawsuit through to the decision has taken all of the patience and determination I could muster, but the result of forcing Rich Victory to turn over Shangri-la shares to Dominica has made it all worthwhile.
Sino Union thanks its Attorneys, Mr. Reginald T.A. Armour, S.C., Ms. Vanessa Gopaul and Mr. Joseph Price for initiating the successful collaboration with the Government legal team and for obtaining this judgment for the people of Dominica."
About C.Moore Media
C. Moore Media is a boutique international communications consultancy specializing in
international public relations and communication services. The company is located in New York, and the founder Claudine Moore has been placed on The PowerList 2010:Britains Top 100 Most Influential Black People. twitter.com/CMooreMedia www.cmooremedia.com
A court in the British Virgin Island have ruled in favor of Sino Union and the government of Dominica in a case brought by Felix Chen of Sino Union, in which he sought to get government’s stake in the Shangri-la to be restored.
Shangri-la was a company formed to develop the Layou River Project and was managed by David Hsiu, former Dominican Ambassador to China. The court’s ruling gave a 51 percent stake in the company to the government of Dominica, and a 40 percent stake to Sino Union.
 Felix Chen successfully sued Dominica's ambassador to China David Hsiu over the Layou River Hotel project. |
In response to the ruling, Felix Chen, President and CEO of Sino Union made the following statement.
“ I am very pleased with and welcome the decision of the Eastern
Caribbean Supreme Court delivered yesterday 11th November 2009 in the British Virgin Islands, which recognizes Dominica as the 51% shareholder in Shangri-la, the company formed to develop the Layou River Project.
The decision resolves the rectification claim brought by my company Sino Union to protect the interests of the Dominican people in Shangri-la, and to resist the efforts of Mr. David Hsiu and his company Rich Victory to halt the Project.
The decision has finally cleared the way for us to engage in an active
partnership with the Government of Dominica and Prime Minister Skerrit to
develop the Layou River Hotel Project.
This project represents a significant opportunity for new jobs, tourism, and commerce for the people of Dominica. With this in mind I am looking forward to presenting plans for the project to the Prime Minister and his Government at the earliest possible date.
The frustration of the project, which has been perpetrated until now by
Rich Victory and Mr. David Hsiu as Dominica’s former Ambassador, is a major
disincentive to potential investors in Dominica.
I am confident the Prime Minister will ensure that activities of this type will not be allowed to happen again. I am gratified that Justice Bannister took note of my integrity and business experience in his written decision.
Indeed, seeing this lawsuit through to the decision has taken all of the patience and determination I could muster, but the result of forcing Rich Victory to turn over Shangri-la shares to Dominica has made it all worthwhile.
Sino Union thanks its Attorneys, Mr. Reginald T.A. Armour, S.C., Ms. Vanessa Gopaul and Mr. Joseph Price for initiating the successful collaboration with the Government legal team and for obtaining this judgment for the people of Dominica."
About C.Moore Media
C. Moore Media is a boutique international communications consultancy specializing in
international public relations and communication services. The company is located in New York, and the founder Claudine Moore has been placed on The PowerList 2010:Britains Top 100 Most Influential Black People. twitter.com/CMooreMedia www.cmooremedia.com
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// posted by TheDominican.net @ 1:02 PM
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Claudine, I beg your indulgence for reserving my judgement till I see the balance sheet of Shangri-la International Development Ldt.
# posted by 
: November 14, 2009 10:27 PM
: November 14, 2009 10:27 PM
Why is the Skerrit government making it appear as if they were the ones that took the initiative.....well well well
# posted by : November 15, 2009 6:24 AM
: November 15, 2009 6:24 AM
Now that Dominica owns 51% of Shangri-La I, as a Dominican, would like to know exactly what it is we own 51% of. Would the Government of Dominica kindly make public a complete list of the company's assets and liabilities?
Concerned Dominican
Concerned Dominican
# posted by : November 16, 2009 12:18 AM
: November 16, 2009 12:18 AM
The payment by Mr Cheng of US$50,0000.00 to a Mr Hartley Henry. This payment was made on JULY 2ND 2009 and TRANSFERRED FROM ACCOUNT # 012-884-0-006231-1 HKD388,335.00 IN THE NAME OF IMPERIAL BUSINESS COMMUNICATIONS LIMITED TO ACCOUNT :/185-437388-3 IN THE NAME OF HARTLEY HENRY AT THE WASHINTON MUTUAL BANK, 12125 SABO, HOUSTON, TEXAS 77089, USA.
We know that Mr Hartley Henry is an Advisor to the Dominica Labour Party and its leader Roosevelt Skerrit. Why would Mr Cheng make such a payment to Mr Hartley Henry?
We know that Mr Hartley Henry is an Advisor to the Dominica Labour Party and its leader Roosevelt Skerrit. Why would Mr Cheng make such a payment to Mr Hartley Henry?
# posted by : November 16, 2009 1:51 PM
: November 16, 2009 1:51 PM Links to this post:
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