Jamaican News Investment Minister, Embrolied In Own Investment Failure All deposits will be refunded says Robertson MINISTER OF Industry and Investment, Dr. Paul Robertson, said yesterday he has made all the necessary arrangements to protect persons who have signed agreements to buy land in a project for which his company, P.K.D., is responsible. He was responding to a front page story in yesterday's edition of The Gleaner. Dr. Robertson said "this is a venture I undertook in my private capacity through my company from my own resources and loans obtained from my bankers and for which I am responsible to the purchasers". In a statement he signed as chairman of P.K.D., Dr. Robertson said the development had not been successful and the company was therefore "in the process of refunding all deposits to each purchaser". He said a portion of each deposit has been paid over to the Stamp Commissioner and to recover that portion, each depositor is required to sign a cancellation of the sale agreement to facilitate the refund. "I have made all the necessary arrangements to protect the persons who have signed agreements to purchase land in the project and wish to emphasise that all deposits on lots will be repaid," he said. He added that the necessary cash is in place to repay the non-tax part of the deposits "and we have in fact started to do so". The story in yesterday's Gleaner said Dr. Robertson had called in attorneys in a bid to sort out the problems at P.K.D. The story said a Jamaican, Aston Wayne Harty, who lives in the US Virgin Islands, has been trying for some time to recover more than US$14,000 he paid to P.K.D. as a deposit for a lot of land at Nonsuch and Unity, St. Mary. Other purchasers were also affected by the failure of the development.
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