| Feinstein Will Take His Fight For Stake Bank To The Court Of Appeal |
| Thu, January 30, 2025 |
| Last night we told you about the High Court decision in favor of the government and against Stake Bank developer Mike Feinstein. The court approved the compulsory acquisition of the island for a public purpose - of letting a company named OPSA develop it. Today, the Feinstein Group struck back with a response saying they will appeal...
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Last night we told you about the High Court decision in favor of the government and against Stake Bank developer Mike Feinstein. The court approved the compulsory acquisition of the island for a public purpose - of letting a company named OPSA develop it.
Today, the Feinstein Group struck back with a response saying they will appeal.
A press release says Feinstein is disappointed by the High Court's decision which he views as, quote, "a temporary setback and is confident that its case will succeed on appeal. After carefully reviewing the judgment, our Attorneys remain convinced that the compulsory
acquisition is unconstitutional and not for a genuine public purpose. This ruling is a blatant signal that the GOB can act with impunity, disregarding property rights, due process and the economic prosperity of its own people." End quote.
But while they wait for an appeal, the government is expected to proceed to issue the second notice of acquisition and complete the process to vest the property in OPSA which they started in August of last year.
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