A petition has been sent to the Cayman Islands Grand Court for the Winding Up of MV Cayman  Ltd., formerly HHG Cayman Ltd. and the appointment of Chris Johnson Associates Ltd as liquidators.

The company’s main assets is the lands and premises on the West Bay Beach formerly known as Margaritaville Beach Resort and Spa, and before that was  the Treasure island Hotel.

According to the documents filed the Petitioner is Jeremy Beck a resident of the Cayman Islands and is owed at least US$2,005,000, which together with interest was due for payment on 10th September, 2021.

There is a written option agreement in respect of nine units in the Resort.

MV Cayman Ltd sought a stay of execution in respect of the debt but this was dismissed by the Grand Court.

They had cleared funds in their bank accounts of only US$20 and CI$9,369.

We have not been able to contact anyone for comment.