Bookmark Jamaica-Gleaner.com
Go-Jamaica Gleaner Classifieds Discover Jamaica Youth Link Jamaica
Business Directory Go Shopping inns of jamaica Local Communities

Home
Lead Stories
News
Business
Sport
Commentary
Letters
Entertainment
Arts &Leisure
Outlook
In Focus
The Star
E-Financial Gleaner
Overseas News
Communities
Search This Site
powered by FreeFind
Services
Archives
Find a Jamaican
Library
Weather
Subscriptions
News by E-mail
Newsletter
Print Subscriptions
Interactive
Chat
Dating & Love
Free Email
Guestbook
ScreenSavers
Submit a Letter
WebCam
Weekly Poll
About Us
Advertising
Gleaner Company
Search the Web!

Government blocks Joslin on Dorchester apartment sale
published: Sunday | October 5, 2003


Joslin

THE LEGAL battle over the Dorchester got a little bit more complicated, with the Government having now entered the picture, asking for time to make a submission to the court.

The move effectively blocks Dennis Joslin and his agent from disposing of the 34 apartments he placed in receivership, for another month.

Solicitor-General Michael Hylton, QC, appeared in the Supreme Court last week representing the Ministry of Housing which own the lands on which the apartment building was developed. Justice Andrew Rattray, in response to his appeal, placed an injunction on Joslin's company Jamaica Redevelopment Foundation Inc, and his Receiver Ken Tomlinson until the next court appearance on November 4.

ORIGINAL MORTGAGE WAS $34 MILLION

Mr. Joslin's attorneys had said the bad debt collector would have began taking steps to recover debts owed on the property after yesterday, if John Cooke's General Management Company had failed to clear an outstanding mortgage issued originally by National Com-mercial Bank. The original mortgage of $34 million was upstamped to include another $75 million but the parties are not saying how much remains to be paid.

Joslin acquired the mortgage as part of the bad debt portfolio sold to him by FINSAC.

The apartment development was a joint venture between GMC ­ which has been trying to block Dennis Joslin Jamaica/JRF from selling the property ­ and the National Housing Corporation, a state agency which has now been collapsed into the National Housing Development Corporation.

NHDC's lawyers have been watching the case.

Mr. Hylton has now asked for time to make an application for intervention, a move that Joslin's attorneys said they had been told was coming.

Sandra Minott-Phillips of Myers Fletcher said the court will hear three submissions in November, two from GMC for an interlocutory injunction and an application to amend its claim; and Hylton's application for intervention.

Sunday Business tried but failed to reach Mr. Hylton.

More Business




















©Copyright2003 Gleaner Company Ltd. | Disclaimer | Letters to the Editor | Suggestions

Home - Jamaica Gleaner