On May 23rd, 2024, Caribbean Galaxy Real Estate Corporation. was named in a lawsuit from plaintiffs MSR Media SKN Ltd., MSR Hotels & Co. Ltd., MSR Media International, LLC (“MSR Entities”), and Philippe Martinez, who allege that Caribbean Galaxy acted improperly and illegally in the citizenship programs in Saint Kitts and Nevis, and Saint Lucia.
History1. Caribbean Galaxy is one of the leading developers using citizenship by investment options in the Caribbean, and has built the Ramada Hotel in Saint Kitts, and also raised the financing for the construction of the modern Saint Kitts Correctional Facility. Through these initiatives, we have provided hundreds of millions of dollars in revenue to the Government of Saint Kitts and Nevis.
2. Caribbean Galaxy first came to Saint Lucia in 2018, was approved by the former administration as a CIP real estate project, and fully commenced the construction of the Dreams Resort in early 2023. We intend to follow with the construction of a Zoetry Resort, along with Residences.
3. Caribbean Galaxy is a developer in the newly announced “Infrastructure Option” under the Government of Saint Lucia’s citizenship program, where, in addition to financing the various infrastructure projects, we will provide revenues through the collection of fees, to the Government of Saint Lucia.
4. Caribbean Galaxy has always followed the law in Saint Kitts and Nevis, and Saint Lucia, and all its business dealings follow industry practices.
ActionIt is with this background, that Caribbean Galaxy is appalled by the false accusations of Philippe Martinez, suggesting that our company has engaged in corrupt practices with politicians in Saint Kitts and Nevis and Saint Lucia. Mr. Martinez has stated that our actions, as citizenship program agents in these countries, have precluded him from realizing his investments.
We want to make it categorically clear that Caribbean Galaxy has no relationship or business dealings with Philippe Martinez.
Our business dealings in the countries where we are approved as a developer, has been in full accordance with the laws of those countries, and we take serious offense to the accusations made by Mr. Martinez, which seeks to destroy the reputation and good will of our company. Since conducting business as a developer in the Caribbean, our company has not just acted as agents for citizenship programs but has taken a keen interest in the social and economic development of local communities.
Caribbean Galaxy will continue to defend itself against these allegations just as it has in the defamation and legal action instituted against Philippe Martinez and his co-conspirators in Saint Kitts in November 2023.
Caribbean Galaxy continues to work towards the completion of the Dreams Resort and remains committed to offering revenue to the Government of Saint Lucia, as part of the “Infrastructure Option”.
Caribbean Galaxy reassures the Government and the people of Saint Lucia that it will vigorously defend its name in whatever Court of law required and will not be intimidated or bullied by the selfish actions of individuals who have found themselves lacking in achieving their investments.
We promise the public that we will continue to be committed to Saint Lucia and will continue to contribute to the positive transformation of the island, its people and its future generations. Accordingly, we also wish to thank the present and former governments for their continued support in these initiatives.
SOURCE: Caribbean Galaxy/SLT
