Feinstein Doubles Down on Decision to Challenge G.O.B. Acquisition

The Feinstein Group says it is moving full steam ahead to challenge the Government of Belize’s recent decision to compulsorily acquire twenty-three point four acres of Stake Bank Island. The company issued a release today outlining its reasons for objecting to the compulsory acquisition. The Feinstein Group argues that the acquisition lacks legitimate public interest.  They contend that the existence of alternative docking facilities such as the Port of Belize and the Port of Magical Belize negates any urgency or necessity for the G.O.B. to seize the Stake Bank lands. The Feinstein Group further argues that Michael Feinstein holds one hundred percent of Stake Bank Enterprises Limited’s shares and that he legally acquired the additional twenty-three point four acres surrounding Stake Bank Island using his personal funds, with full transparency and approval from relevant authorities. The Feinstein Group asserts Michael Feinstein entirely financed the dredging equipment essential for the project’s development and that the expenditure for the projected amounted to one hundred and seventy million dollars with an additional forty million dollars in interest. The Feinstein Group further alleges that the decision is shrouded in malice and corruption intended to punish Michael Feinstein for his “outspoken stance against G.O.B.’s various egregious actions aimed at diminishing the project. Evidence exists that senior government ministers have been actively involved in efforts to coerce cruise lines away from SBEL’s cruise port, favoring competing projects instead”. The group remains unwavering in its commitment to defend Michael Feinstein’s property rights against this acquisition. The release notes that an independent international appraisal of the property is currently underway to ascertain its true value. It ends with a call for the Government of Belize to respect the rule of law, honor its commitments to local investors, and engage in fair and transparent dialogue to resolve this matter.