UNCLAS LONDON 001923
E.O. 12958: N/A
TAGS: KIDE EINV ECON UK
SUBJECT: 2008 REPORT ON UK INVESTMENT DISPUTES AND
REF: REF: STATE 43784
Â¶1. (U) SUMMARY: Post is unaware of any relevant disputes
against the Government of the UK. Post is aware of one
outstanding claim of United States persons against the
Government of the British Virgin Islands (GBVI). Claimant A
reports they were never compensated for a time share vacation
club membership when the underlying property was sold to the
GBVI. Claimant A reports that there are approximately 900
claimants, of which the majority are Amcits. END SUMMARY
Â¶2. (U) Claimant designation: Claimant A
Â¶3. (U) Year dispute arose: 2005
Â¶4. (U) Case History: Claimant A received a notice of
withdrawal from timeshare arrangements from the management of
a timeshare resort, allowing the owner to sell the property
as abandoned to the GBVI, an overseas territory of the United
Kingdom with its own elected government. The United Kingdom
appoints a Governor of the BVI who oversees the external
affairs of the territory. The elected GBVI oversees the
internal affairs of the territory. HMG views this as an
internal dispute in the GBVI, over which it has no
jurisdiction. In 2007, the claimant was hopeful that the
newly elected government would offer a settlement. However,
claimant A reports the elected government is not sympathetic
to the timeshare owners plight and there is no agreement yet.
Claimants have formed an organization called the Vacation
Club and are considering filing a class-action lawsuit
against the Government of the British Virgin Islands in U.S.
Â¶5. (U) Location of property: Island of Tortola, British
Â¶6. (U) Estimated Value in US dollars, according to AmCit:
$14,000 - $15,000 per claimant, or about $1.3 million, total.
A second-hand source provided by Claimant A list the total
value at $4 - $8 million.
Â¶7. (U) Approximate date when information was last received on
the claim: July, 2008
Â¶8. (SBU) Claimant A: Ms. Lisa Ann Goldsmith AmCit (no
Privacy Act Waiver signed)
Â¶9. (SBU) Claimant A claims that there are approximately 900
other individuals and families who lost their time shares.
She believes that the majority of them are American citizens.
Â¶10. (U) Post will continue to follow up with claimant group.
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