In 2003 a sub lease of Poivre Island was agreed between LCP
Developments Ltd and Island Development Company Ltd (IDC) for 60 years at an
annual charge of $20, 0000; nothing to set the world alight. This is until one
looks at the 99 year lease for one rupee agreement between the Republic of
Seychelles and IDC, which does not state that the 14 islands can be sub leased.
The principal activity of IDC is supposed to be the management of outlying
Islands on the behalf of the People of Seychelles. Going further the agreement
between Republic of Seychelles and IDC maybe unconstitutional as it clearly states
which islands are the Seychelles archipelago; in no way indicating they can be
leased or sold.
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| The Unconstitutional lease agreement |
The not so exorbitant annual rent between the 2 parties for Poivre Island was
justified as there was no infrastructure on the Island and so an agreement for
a tourist project was agreed upon. The new sub lessee would now have to build a
runway, harbour, and sewage structures etc at their own expense; which overtime
they carried out. It is estimated, as well as being time consuming, the total
cost of building these infrastructures was close to $8.5 million; a figure that
would set the world alight!
With everything running smoothly all of a sudden the reckless IDC began
imposing and insisting that they were also going to build their own villas under
the IDC umbrella, which clearly would violate the questionable sub lease
agreement. Evidently the muscling action by IDC was going to affect the
original tourist project. Then out of the blue and without any warning, IDC
issued a termination notice to the stunned and shocked other party. Predictably
zero compensation for the past expenses and outlays were given; a most
unethical manoeuvre. This was as if the fat cats at IDC had cunningly planned
for this from the very start?
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| Leighton Curd |
A case is currently
passing through the courts.
By A.Pierre
