Monday, April 19, 2010

Sun Village Resort Fraudulently Sold in Corrupt Auction on October 7, 2009 to Globalia and Lifestyles Resorts. Appeal By Sun Village Shareholders Pending

Sun Village Verified Appraisal $58,084,617.71

The verified appriasal of the Sun Village Resort & Spa is posted below. It was prepared on July 11, 2009. The value of our asset on that date was $58,084,617.71.

However, just less than three (3) months later, on October 7, 2009 our resort property was fraudulently and corruptly sold to Globalia and Lifestyles Resorts for a mere $4.3M, or seven (7) cents on the dollar. Attempts were made by certain individuals to keep our lawyer from entering the courthouse while the fraudulent sale took place between the parties in attendance that day. We have a record of who was involved through an investigation.

The Puerto Plata Newspaper El Faro is quoted by saying that the hotel was sold for "the price of a dead cow".

We are awaiting a hearing date for the appeal and will be discussing at the upcoming shareholder meeting.

Sun Village Resort & Spa Cofresi
Verified Appraisal Report of $58,084,617.71 (July 11, 2009)

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