No wind-up for Nawi Island
July 17, 2019 4:50 pm
Nawi Island Limited in Savusavu today cleared the air over the publication of a notice for winding up of the company.
Managing Director Michael Gann says the company has been solvent since its inception – adding their partnership with the Fiji Development Bank and numerous consultants and vendors in Fiji and overseas is proof of this.
On March 4th, a winding-up petition was filed by Price Waterhouse Coopers against Nawi Island.
The notice, published in a local daily, listed May 1st as the date the case would be called in the Suva High Court.
However, according to Gann, the winding-up notice was issued as a result of an internal dispute and never reached the Courts as it is resolved.
“It was settled prior to that winding- up notice. And, let me be clear that that was just a notice that any individual could publish at any given time. It did not constitute that we were being wound up. So, it was resolved, the settlement deed was placed long before that notice was published. “
Gann adds, due to legal reasons, he cannot provide further details of the dispute but confirms, the publicity over the issue has failed to dampen their spirits and they are more determined now to finish the project.
Gann is undertaking a multimillion-dollar development on Nawi Island in Savusavu Bay.
The project includes a marina, a resort, and a dry dock.