Home » Uncategorized » Rumor is it they have sold their “debt” at a discount as there is little hope of recovering the money.

Rumor is it they have sold their “debt” at a discount as there is little hope of recovering the money.

Fiji casino developer sells its stake

Updated at 1:43 pm today

The developer granted an exclusive licence to build Fiji’s first casino near Nadi has reportedly sold its stake to another party.

The government announced late in 2011 that the American corporation, One Hundred Sands, would build the casino, in partnership with a Native American tribe, which runs its own casino in Washington state.

The US$155 million dollar project has suffered a number of setbacks, with little sign of construction.

Following the delays, the Snoqualmie Tribe pulled out of the deal after investing 1.5 million US dollars, and recently filed a lawsuit to try and recover its money.

The chairwoman of the tribe Carolyn Lubenau says in the last couple of weeks One Hundred Sands has sold its interest in the casino to another party.

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5 thoughts on “Rumor is it they have sold their “debt” at a discount as there is little hope of recovering the money.

  1. Frank can turn gold bullion into shit. He has the reverse Midas touch. If a country or business wants to become insolvent, just put Frank in charge. He knows how to march and fire a gun. Apart from those two things he is completely devoid of skill or talent. If you want a thug for your leader who has a sub-100 IQ, Frank is your Man. Vote FF. He will make sure young Fijians get ejjikated like him.

  2. The status of our country debt friends.
    All these while we were worried that our ever escalating debts have reached to an alarming and worrying $4.8 billion. This is official and as reported by Reserve Bank as well.
    But what is not reported and even more freightening is the information on hand about unreported debts like contingency liabilities/debts etc which now amounts to approximately $7.4 Billion in total. In the absence of any Auditor Generals report, the onus is on the government of the day to be very transparent.
    Also, we have been informed that the recent public advertisement from Fiji First about GDP and Growth is manipulated. The double dipping of infrastructure development is double picked under capital investment and also under consumption/expenditure. Again government needs to explain this.

  3. 135 Controversy : Electoral Commission (EC)
    Number 135 and link to Quran – Electoral Commission chairman says number was chosen at random:
    Fiji’s Electoral Commission chairman Chen Bunn Young said the ballot paper numbering was selected at random and denies it has any other implication aside from starting with a three-digit number to avoid any confusion for voters.
    His comments follow statements reported to have been made by former Prime Minister Laisenia Qarase who suggested it had religious implications leaning towards the Quran.
    Source: Fijilive, 6 August 2014
    Can the EC answer the following regarding the 135 issue?
    1. When was this done and who witnessed this process?
    2. Where was the random selection done?
    3. Was political parties present during this selection ?
    4. What were the other numbers in the draw?
    5. Why there was no publicity or media reports about the random selection?

  4. @ Anonymous August 06, 2014 at 7:37pm.

    We do not know whether or not the payments towards Nur Bano Ali’s salary are ever recorded in the Auditor General’s reports from 2007 to 2013. But these facts should be reported and recorded in it.

    It will be very easy to track down the facts of this issue but Bainimarama and Khaiyum will make it harder because if the reports come out between now and election time FFP will certainly lose many votes.

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