C. A. Nigel Hughes
February 19, 2014
Dear friend,
The recent publications in the media about the sale of the property located at lot 29 Third Avenue, Subryanville to Ms. Mayfield French, proprietress of Mae’s School, have been a source of much comment since the first publication in the Guyana Chronicle.
The expressed statements and inferences related in the various publications are that the purchaser was unaware of the existence of a mortgage on the property at the time of her acquisition of the property or at any time after that.
On the 24th day of February 2006, I sold the aforementioned property to the purchaser for the sum of twenty million dollars.
There was an express reference in the agreement to the existence of the mortgage under the heading “special condition”. A copy of the agreement of sale signed by the parties highlighting this is attached.
It is useful to note that in the ex parte application to the court in the civil proceedings brought by the purchaser against me, no reference is made to the fact that the Purchaser was aware of the existence of the mortgage or that there was reference to it in the agreement of sale. It was conveniently omitted.
The purchaser was clearly aware at the time of the purchase of the property that there was an existing mortgage on the property as this was recorded on the transport since the execution of the mortgage on the 16th February 1998. A copy of the transport with the mortgage annotated thereon is attached.
The most important fact that seems to have escaped the PPP and their propaganda machinery is that at the time of the signing of the agreement a deposit of $ 4 million was paid and the outstanding balance of $16 million was in excess of the sum due owing on the mortgage. An additional $ 8 million was paid when she took possession of the property in 2006, leaving a balance owed of $8 million.
The conveyance of the property was advertised in the Official Gazette on the 3rd February 2007. It was not opposed by Hand in Hand or any other person. Attached is a copy of the publication.
The balance of the purchase price, ($8 million) owing on the agreement since 2006 was not paid to me until yesterday (February 18th 2014). This is despite the millions the purchaser stated she invested in the property.
This payment along with the arrears in mortgage payments were paid over to Hand In Hand Mutual Life Insurance Company yesterday to liquidate all the outstanding sums due owing on the mortgage.
The civil action brought by the purchaser was today settled with the purchaser paying me the balance of the purchase price along with the arrears which were paid over to Hand in Hand Mutual Life Insurance Company which has agreed to cancel the mortgage forthwith. The transport is to be passed to the Purchaser by the Registrar of the High Court.
Yours faithfully,
C.A. NIGEL HUGHES
Attorney-at-Law
