Dear Editor,
NICIL notes with tremendous concern the press release issued by Navigant Builders, Inc. (referred to as “Windsor Estates”) concerning its purchase of lands at Ogle and issues this statement to clarify the surrounding factual matrix. Windsor Estates through its principal Danny Sawh engaged in negotiations with NICIL concerning the purchase of lands at Ogle from 2019 through to late February, 2020.
After the submission of detailed development plans, these discussions culminated in the execution of an agreement of sale for 30 acres of land at Ogle on February 21st, 2020, accompanied by a twenty percent down payment in the amount of $180,000,000. Windsor also participated in a sod turning ceremony on February 27th, 2020, where a presentation was made by Windsor employee Mark Thomas.
Despite Windsor’s contractual obligations, it appears that on March 6, 2020 Windsor issued a press release stating that it had postponed its plans for the development at Ogle, this postponement having nothing to do with Windsor’s contractual obligations, Windsor’s contract specifically allowing it the latitude to delay its development plans by up to 9 months.
On March 13, 2020, Windsor, in furtherance of its agreement with NICIL, paid NICIL by Scotia Bank cheque number 005868 surveyor fees for the land purchased. As part of Windsor’s agreement, the balance due on the contract is payable upon the production of a signed vesting Order, which by the contract was represented by NICIL to be produced within 3 months of the date of execution of the Agreement. At no time has Windsor ever written to NICIL to terminate its contractual obligations with NICIL, Windsor’s public statements about the delay in development having nothing to do with its contract with NICIL.
On June 19, 2020, one week after the vesting order was signed in accordance with NICIL’s contractual obligations (the vesting order being signed on June 11, 2020), in response to NICIL’s notification of the vesting, along with a request for payment of the balance owed, Mr. Sawh wrote NICIL asking that the transaction be held off until the current elections impasse is resolved due to financing constraints, this request for an extension of time clearly being applicable to the remaining balance owed. At no time did Windsor write NICIL to terminate its contract or indicate that it no longer wished to proceed with the transaction, instead simply stating that financing was delayed due to the current elections situation.
NICIL at all times has complied with its contractual obligations with Windsor Estates, and finds it unfortunate that despite Windsor Estates’ vigorous negotiations to contract with NICIL through to February 26, 2020, and multiple payments made beyond that date, including after the elections, it is now making statements which do not accurately reflect NICIL’s records.
Windsor currently owes NICIL substantial sums as a result of NICIL’s performance with the terms of the parties’ contract. NICIL expects Windsor to do the honourable thing and fully comply with its contractual obligations in the manner agreed by all parties, and suggests that Windsor engage NICIL directly instead of attempting to litigate in the press.
Yours faithfully,
Racheal Henry
Privatisation Specialist
for
National Industrial & Commercial Investments Limited (NICIL)
Special Purpose Unit
