Wednesday September 10,2014 : ANTIGUA & BARBUDA MAKE US$ 100 MILLION SETTLEMENT OFFER TO U.S.
Lead counsel services no longer needed
Antigua and Barbuda Prime Minister Gaston Browne revealed details of a US$100 million settlement offer made to the United States in the decade-long gaming dispute
“We have reduced the amount of the claim. In fact, we are now asking for US$100 million, negotiable, of course,” Browne told the Antigua Observer.
Browne revealed that the gaming industry fronted the legal fees in the fight against the U.S. following a deal made with the former administration.
Legal fees will be repaid to the relevant companies should a settlement be achieved along with 75 percent of whatever monies remain.
The remaining 25 percent will go to the Antigua & Barbuda Government.
In related news, Browne confirmed the departure of lead counsel Mark Mendel, saying his services were no longer required.