(Antigua Sun) – The government of Antigua and Barbuda on the recommendation from the attorney-general has made the decision to halt proceeding in its attempt to acquire lands belonging to R Allen Stanford.

In March of last year, Prime Minister Baldwin Spencer reconvened an emergency sitting of Parliament to discuss ways in which the government can move to acquire prime lands belonging to the investor.

Prime Minister Spencer said that the decision was necessary in order to safeguard the jobs of thousands of Antiguans and Barbudans employed by the company and stem the negative effects that the action of the US courts might have on the economy of Antigua and Barbuda.

Speaking on the matter, Attorney-General for the country Justin Simon indicated that there has been a total stay on the matter until the court makes a determination.
“At the moment, the matter is now in the court because there has been a challenge and an order was made that we would do nothing further in respect of the acquisition.” Simon said that nothing has been transferred to the government, no title has passed and the government has not taken over control of any of the Stanford properties.