by ANTOINETTE CONNELL

THE $8.5 MILLION DEAL by Clico to buy the bankrupt Villa Nova Country House Hotel has been approved

by a judge.

Attempts to block the sale, by a major shareholder in the St John property and two creditors, were rejected by Justice Christopher Blackman yesterday in No. 6 Supreme Court.

The court ruling paves the way for Clico to close the deal within 60 days and take control of the historic centuries-old former plantation property.

The 15-acre, 12-room hotel is owned by Horizon Resorts (Barbados) Limited.

Villa Nova, once the summer home of the late Sir Anthony Eden, a former Prime Minister of Britain, went on the auction block last year running close to $18 million in debt.

Since then at least six proposals were made for the property and last January 16 there was a conditional agreement between joint receivers Christopher Sambrano and Brian Robinson and purchaser Clico.

Queen's Counsel Sir Henry Forde and Ramon Alleyne represented the receivers against the challenges of creditors Telling Caribbean and R. L. Seale & Company and Edenville, a major shareholder in the property.

They were represented by Alair Shepherd, QC, and Brian Weekes.

The opposing parties claimed that the methodology adopted by the receivers in relation to the sale was inadequate and that some bidders were not dealt with fairly.

But yesterday the court said the joint receivers acted in good faith and showed great forebearance in dealing with the bidders.

Later, receiver Sambrano said the ruling meant they would be moving on with the sale.

He promised that a Press statement on the matter would follow soon.

He said the court's decision was a vindication of the receivers.