Key Takeaway
Despite CDAL's "as is" acquisition, they remain legally obligated to restore and maintain Jolly Harbour's infrastructure without burdening freeholders. This obligation stems from binding land transfer covenants that supersede the "as is" purchase terms.
Introduction
The acquisition of CDAL, as detailed in the Non-Binding Letter of Intent from APAC-Orange CDAL, was conducted on an "as is" basis. This means that the current owners accepted all existing conditions—including any latent defects or deficiencies in the infrastructure—without further guarantees from the sellers. However, the presence of enduring land transfer covenants raises a critical question: Are the current owners, despite the "as is" nature of the sale, responsible for rectifying past negligence in infrastructure maintenance, and are they legally obligated under Antiguan law and British Common Law to restore the infrastructure in a manner that does not encumber freeholders?
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