The applicant sought a declaration that the respondent was indebted to it for $2,000,000 USD advanced for a solar project in Barbados, and the appointment of a receiver.
The respondent failed to obtain the required zoning approval within the stipulated 12-month period and repudiated the agreements.
The court found that the respondent was obliged to repay the funds and rejected its claim for equitable set-off based on a separate project in the Dominican Republic.
The court granted judgment for $2,000,000 and ordered the appointment of a receiver, subject to a 30-day grace period for repayment.