Christophe Harbour Owes Over EC$130 Million to Public Institutions with No Repayments Made.

The Christophe Harbour development in St. Kitts and Nevis, once touted as a beacon of economic progress, now stands as a monument to financial mismanagement and alleged preferential treatment. The luxury resort project has amassed a staggering debt exceeding EC$130 million owed to various public entities, including the St. Kitts-Nevis-Anguilla National Bank (SKNANB), the Sugar Industry Diversification Foundation (SIDF), the national electricity provider SKELEC, and the Social Security Board. This massive debt, accumulated through loans and unpaid services, remains largely unrecovered, raising serious concerns about accountability and fairness within the Federation’s legal and financial systems. The lack of repayment, coupled with the apparent reluctance of authorities to pursue robust legal action, has sparked public outrage and allegations of a two-tiered justice system that favors affluent developers over ordinary citizens.

The breakdown of the debt reveals a pattern of significant borrowing from public coffers with no corresponding repayment. The SIDF, a fund established to support diversification of the economy after the decline of the sugar industry, is owed approximately EC$55.4 million, including accrued interest and penalties, on an initial loan of US$16 million. The SKNANB carries a debt of approximately EC$58.3 million related to marina projects within the development. In addition to these substantial loans, Christophe Harbour has accrued over EC$10 million in unpaid electricity bills to SKELEC and owes millions more in unpaid employee contributions to Social Security. This accumulation of debt across multiple public entities paints a picture of financial mismanagement and raises questions about the oversight and due diligence applied to these loan agreements.

The legal proceedings surrounding the debt recovery efforts further highlight the perceived disparity in treatment between Christophe Harbour and ordinary citizens. While both the SIDF and SKNANB initially initiated legal action to recoup their losses, the National Bank inexplicably withdrew its case in late 2022. This withdrawal effectively halted any legal pursuit of the EC$58 million owed to the bank, a move that has fueled suspicion of political interference or undue influence protecting the developers. While the SIDF continued its legal pursuit into late 2022, the lack of public updates since then leaves the current status of their efforts unclear, further adding to the perception of a lack of transparency and accountability.

Adding to the controversy, Prime Minister Dr. Terrance Drew revealed that over EC$2 million was paid to the Social Security Board as part of a recent sale of the Christophe Harbour Marina. This revelation inadvertently exposed the fact that Christophe Harbour had been in default on their Social Security contributions, a criminal offense for which they have faced no legal repercussions. This contrasts sharply with the treatment of small business owners who often face prosecution, fines, or even imprisonment for far smaller amounts and shorter periods of delinquency. This apparent double standard has fueled public anger and accusations of a two-tiered justice system that protects the elite while punishing ordinary citizens.

Further complicating the issue is the unorthodox arrangement between Christophe Harbour and SKELEC. Facing mounting unpaid electricity bills, SKELEC accepted three parcels of land from the development in lieu of cash payment. While this transaction ostensibly recovered the EC$10 million owed, the land’s purported value, nearly double the debt, raises questions about the propriety of the deal and the potential undervaluation of public assets. This land-for-debt swap, while resolving the immediate debt issue for SKELEC, potentially shortchanged the public by exchanging a substantial debt for land that may have been worth significantly more.

The Christophe Harbour debt saga has become a lightning rod for public discontent, symbolizing a broader concern about fairness and accountability within St. Kitts and Nevis. The apparent leniency shown to the developers, coupled with the aggressive pursuit of smaller debts from ordinary citizens, has fostered a perception of a dual justice system. The questions remain: why was Christophe Harbour never prosecuted for its Social Security delinquency? Why did the National Bank abandon its lawsuit? And who is shielding the developers from the full force of the law? These unanswered questions continue to fuel public distrust and demand for greater transparency and accountability. The lack of consequences for such a substantial debt owed to public institutions raises serious questions about the rule of law and equal application of justice in the Federation. The public demands answers and a clear demonstration that all entities, regardless of size or influence, are held to the same legal standards.