What is happening with CLICO’s Villa Nova?

Barbados Villa Nova

Sir,

I have followed your coverage of the Clico fiasco with some interest over the past two years. One of the properties they own is the Villa Nova. Can anyone tell me what is happening to this beautiful property ? I am based in the UK and had the privilige of staying there several times. Please do not tell me they have allowed this treasure to decompose in the way they have other of your National treasures ?

I understand from sources here in the UK that several offers have been made for this property but Clico refuses to sell it !! If they are in such a financial mess surely your Government must insist that they sell these trophies to pay back the tax payers in Barbados ?

I lookforward to your response.

Best Wishes to the wonderful people of Barbados.

(Name withheld by BFP editor)

Editor’s Comment: We understand that Villa Nova is falling into disrepair. The original website: Villa Nova, Barbados

4 Comments

Filed under Barbados, Politics, Politics & Corruption

4 responses to “What is happening with CLICO’s Villa Nova?

  1. Donald Duck, Esq

    Why can’t this government reveal the real truth about the affairs of clico barbados now that it has an “oversight” commitee in place?

  2. reality check

    presumably Clico had Villa Nova on the books at a much higher price than the offers that have been made via the U.K. even though they may represent todays market value.

    This would mean that more money is required to be injected by the government ( citizens taxpayers ) or by the new ( lucky ) credit union members ( read that to mean “the little guy always ends up holding the bag” ) to cover the immediate loss incurred by such a sale. This would also mean that such a loss would make Clico and both governments look more incompetent than they already do. Let the chips fall where they may.

    If there is no such lower value from what is stated on the books, then there is no excuse for the government or anyone else not to sell this asset immediately by putting it out to tender, unless, of course, certain people are looking for a consultation or facilitation fee?

    Does anyone know what the book value of Villa Nova is and where the offers are coming in at, or are we still waiting for complete audited statements?

  3. Nicholas Drye

    Thank you for publishing my email ref:- Villa Nova
    I believe Richard Eames of Savills Barbados can give you guidance on value. He has interested parties wishing to purchase Villa Nova but Clico will not talk to them!!
    Warmest Regards
    Nick Drye

  4. onlyme

    Villa Nova is one of the estates stolen from one of the old weak owners.