British property developer Alistair Woolf is heading a group that is about to buy the St George's Club timeshare complex for between $3.75 million and $4.25 million, we can reveal.Mr Woolf, whose group includes several Bermudians, is currently finalising a purchase arrangement with the Club's receiver, Price Waterhouse, and is expected to put pen to paper within days.
A proposed $5 million deal to sell the plush St George's Club timeshare complex to its members has collapsed.The deal died when members failed to meet a June 20 deadline to put down a $250,000 deposit.
A Canadian businessman who claims that alleged negligence on the part of Attorney General Walter Maddocks while he was a partner in Conyers, Dill & Pearman cost him CDN$528,000 has had his damages lawsuit against CD&P dismissed because he took too long to bring it.
Members of the plush 69-unit St. George's Club timeshare complex have signed a preliminary agreement to buy the business for approximately $5 million.A party from the Members Advisory Council will visit Bermuda later this month to inspect the Club's books and meet with Government, which owns the land.