Nevis Premier Joseph Parry

The May 6 dismissal entered by U.S. Judge Brendan Linehan Shannon of the District of Delaware Bankruptcy Court pertaining to the involuntary Chapter 11 bankruptcy petition filed against Hotel Equity Fund V, LLC, clears the way for the Four Seasons Resort to reopen this year, according to Nevis Premier Joseph Parry.

Hotel Equity Fund V, LLC is the owner of the resort, once among the top-rated hotels in the Caribbean before its closure in October 2008 due to damage suffered from Hurricane Omar.

In his weekly "Ask the Premier" radio show, which airs on Tuesdays, Parry stressed the importance of the resort to the island of Nevis.

"There are some 700 to 800 persons who get employment there, and then the other persons who work in the villas," he said. "Take into consideration as well, the taxi men, the people who work in restaurants, fishermen, farmers and you will be talking about 2,000 persons who depend on the Four Seasons hotel. So it is very important for us, and to us, that the Four Seasons is re-opened."

Parry went on to stress that the hotel was privately owned, and not run by the government.

"But it is in the government's interest to be involved," he explained, "because the closure of the Four Seasons has had a terrible impact on the island of Nevis, and on the Federation of St. Kitts and Nevis. I believe that all of us accept this."

The recently dismissed involuntary chapter 11 petition was filed by creditors Capstead Mortgage Corp., Bergland Architects, LLC, and Island Water World in a reported attempt to block the foreclosure of the resort by the resort's lender, Wells Fargo Bank N.A., successor to Wachovia Bank, N.A.

Parry indicated that he was kept abreast of the legal proceedings pertaining to the bankruptcy, and was aware of the dismissal as soon as it occurred.

"This information was sent to me by an American lawyer, Theodore A. Kittila, whose services were obtained on behalf of the homeowner's association and the Government of Nevis," he said.

The Premier went on to explain that Mr. Arudnauth Gossai, Federal Crown Council, gave witness on behalf of the Government of Nevis, though he did not work for it. Gossai was tasked to give evidence to the Delaware court outlining the laws of the Federation of St. Kitts and Nevis, and the importance of the hotel to the Federation.

The Government of Nevis paid for Gossai's travel accommodations and arrangements, but he was allowed to testify by the Federal government, for which Parry thanked Prime Minister Denzil Douglas and Attorney General Patrice Nisbett.

"Mr. Killila reported that Mr. Gossais's representation of the views of the Nevis Island Administration and his expertise in the law of St. Kitts and Nevis were specifically noted by the Court, and were instrumental in reaching a result," informed Parry. "The Court in dismissing the case recognized the significance of the resort and understood that the livelihood of the people of Nevis depended on the opening of this hotel soon."

"As far as we are concerned, everything is on schedule for the Four Seasons to reopen before the end of year, as long as no more obstacles are put in the way," he continued

Parry identified the ideal time for the Four Seasons end its closure.

"November is a very important time for the hotel to re-open," he said "The American Thanksgiving holiday falls in November. In December, you move into the Christmas season, and then you start the high season in January."

He then struck a cautionary tone, referencing some of the obstacles noted earlier.

"If the case went the bankruptcy route [in Nevis], possibly things could be done to have a reopening, but it is foreseeable that the effort could become bogged down in litigation. If this happens, and it is very likely that it could happen, we would miss the November reopening," he said.

"Frankly speaking, if we miss the November reopening, we would not know when the Four Seasons would reopen again."

Parry went on to label that latter possibility "catastrophic" for the island of Nevis.