THE iTaukei Land Trust Board (TLTB) has acknowledged concerns recently raised by the landowning units (LOUs) of Vatulele Island Resort regarding the prolonged inactivity of their leased land.
Responding to a Fiji Times article on Monday this week highlighting Vatulele landowners’ plight, TLTB issued a statement yesterday saying it is aware that the owner of Vatulele Island Resort –
Paradigm Group of Companies – currently has a court case against Home Finance Company Pte. Ltd (HFC).
“HFC had sold the resort to Paradigm Group under mortgagee sale after the previous owner was unable to repay its debts,” it stated.
“As required by law, TLTB granted the application for consent to transfer by HFC as it was exercising its rights as mortgagee.
“It is important to highlight that TLTB is not a party to the ongoing legal action.
“The role of TLTB remains strictly an administrative one, ensuring compliance and enforcement of the lease terms and conditions for the benefit of the LOUs.”
It said in line with this role and its commitment to upholding the interests of the landowners, “TLTB’s position is that no matter how long the court case between Paradigm Group and HFC takes, and whatever the outcome may be, Paradigm Group as Lessee cannot derogate from its obligations under the lease.”
“Therefore, TLTB has initiated the re-entry process of the lease due to the prolonged inactivity and non-compliance with lease conditions.
TLTB said it has issued a notice to Jay Singh and Paradigm Group of Companies, outlining the breaches and the intention to re-enter the lease.
“This action is being undertaken in strict accordance with the legal procedures governing land leases,” TLTB stated.
“TLTB is diligently following legal processes in addressing the current situation and urges the landowners to bear with us as we work towards a resolution that aligns with legal requirements and serves the best interests of all parties involved.
“Our team is actively monitoring the situation and will provide updates to the landowners as developments occur.”
LOUs of Vatulele Island Resort had raised concerns to the Fiji Times last week regarding the fate of the resort, which has been closed for the last 14 years.
NOTE: This article was first published in the print edition of the Fiji Times dated January 25, 2025.
