The High Court has ruled that a Florida businessman can proceed with selling two properties in Antigua and Barbuda despite attempts by the owners to stop the sale.
Justice Rene Williams decided Paul Bongiorno’s power of attorney to sell the properties remains valid as it was given as security for loans.
The properties located in Falmouth and Bethesda are owned by two Panama-registered companies -Laurenciago Limited and Murillo Limited.
The companies’ owner, Joseph Gatt, had borrowed money from Bongiorno through several agreements since 2013.
After defaulting on the loans, Bongiorno arranged to sell the properties to Michael and Claire Shipley in February 2023.
When the companies tried to revoke Bongiorno’s authority to sell, the court found they could not do so without his consent since the power of attorney was part of the loan security.
The court ordered the Land Registry to cancel the attempted revocation and blocked the companies from interfering with the sale. They must also pay EC$10,000 in legal costs.
