The Tribune

By DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

THE Grand Bahama Port Authority (GBPA) assured its licencees and the Grand Bahama community on Friday that the organisation’s business continues as usual and is not impacted by an October 5 Court Order issued by the Supreme Court.

Supreme Court Justice Indra Charles issued a court order appointing Ryan Pinder and Paul Winder as judicial trustees of the late Sir Jack Hayward’s trust, amid a legal battle between the Hayward family and Sir Jack’s longtime partner, Patty Bloom.

Sir Jack, who died in January, has a 50 per cent ownership stake in the GBPA.

In a statementon Thursday, the GBPA said: “Neither the GBPA nor its parent company InterContinental Diversified are the subject of the Order, and GBPA Executives and Management will continue with the management, promotion and development of Freeport in the best interests and for the wellbeing of the people of Freeport and the wider community of Grand Bahama.”

According to Tribune Business, the effect of Monday’s Order is to place a 50 per cent ownership stake in Freeport’s quasi-governmental authority, and the company that owns half of the city’s most profitable assets and infrastructure, into the hands of Supreme Court supervision.

Mr Pinder and Mr Winder will serve as joint receivers for Seashell Investments Ltd, a British Virgin Island company through which the late Sir Jack, via a lengthy corporate structure, ultimately held his family’s 50 per cent stake in the GBPA and its Port Group Ltd affiliate.