Case Over Hilton Marina Deal

Nassau-based British Colonial Hilton's holding company has a potential case to answer concerning an $85 million lawsuit over a failed marina project next to the property.

New York Judge Charles Edward Ramos also ruled that two affiliates and a former broker for the resort's sale may have a potential case to answer, according to The Tribune of Nassau.

The marina site sits on prime Bahamas real estate in the heart of Nassau.

The action was launched by Island Global Yachting. Judge Ramos removed two major shareholders, PRK Holdings and Adurion Capital from the lawsuit. However, he found that IGY had effectively established a prima facie case against the British Colonial Development Company and two property holding affiliates, Ocean Bay Properties 1 and Ocean Bay Properties 11, as well as broker George Allen, for alleged breach of contract and for failing to perform their side of the deal, Tribune Business reports today.