Finance Minister Harold Lovell is facing legal action if he fails to promptly issue a warrant to compensate Half Moon Bay (HMB) Holdings more than US $70 million.

Half Moon Bay (HMB) Holdings – owed more than US $65 million by government – has sought the court’s intervention in getting its money.

The Eastern Caribbean Supreme Court of Appeal has granted the government of Antigua & Barbuda leave to appeal to Her Majesty in Council (Privy Council)

US legislators have signalled their intention to investigate Antigua & Barbuda’s role in the US $7 billion Ponzi scheme of convicted fraudster Allen Stanford.

Prime Minister Baldwin Spencer has revealed that the government is trying to buy back two parcels of land at the VC Bird International Airport from a development company owned by jailed Texan financier, R Allen Stanford.

Following on a US Senate Resolution against Antigua & Barbuda introduced on December 8, 10 United States congressmen introduced a Congressional Resolution on December 23 expressing the sense of the House of Representatives that the “Government of Antigua and Barbuda has committed numerous acts against the interests of United States citizens and operated the financial sector and judicial system of Antigua and Barbuda in a manner that is manifestly contrary to the public policy of the United States.”

United Progressive Party (UPP) Senator Colin Derrick has told members of the ruling administration to proceed with caution with the US Senate Resolution 346 presently before the House.

Minister of Finance Harold Lovell yesterday said government is not in a position to pay the US $23 million it offered to pay Half Moon Bay Holdings as compensation after compulsorily acquiring the property several years ago.

As the long standing dispute between government and managing director of Half Moon Bay (HMB) Holdings Natalia Querard continues to widen the chasm between the two, the latter stopped short of calling Attorney General Justin Simon a liar following his comments on the matter in Parliament last week.

Several United States senators have submitted a resolution to the Senate to suspend all aid – direct and indirect – to Antigua & Barbuda.