The Court ordered the Receiver on June 14, 2023 to: (1) commence the process to market and sell the Belizean land; (2) survey eligible consumers to determine their individual lot election choices; and (3) send the first round of redress payments to eligible consumers.
The Claim Application process in this matter was completed on February 9, 2023. You are an eligible consumer if you completed a Claim Application and the Receiver notified you by email that you are eligible. You can log in to the Claim Application Portal using the green link above to view your Claim Application Determination Notice, which tells you if you are eligible and, if so, your Amount Paid and Lot Purchase terms for each lot.
After the entry of the Court’s June 14, 2023 Order, the Receiver began taking steps to market the Sanctuary Belize and Kanantik land. The Court authorized the Receiver to market the Belize assets for sale through a Request for Information (“RFI”) process followed by a Request for Proposals (“RFP”) bidding process. With the help of international real estate brokerage firm CBRE, the Receiver completed the RFI process and formally began soliciting offers through the RFP process on May 29, 2024. The RFP offering memorandum may be accessed here.
After considering bids submitted in connection with the RFP process and negotiating terms and conditions in the form of a Purchase Agreement, on January 27, 2025, the Receiver selected a qualified bidder and filed a recommendation and motion for the Court’s approval of the sale of the Sanctuary Belize and Kanantik assets -- subject only to a required final published notice of the proposed sale and opportunity for any interested qualified buyers to submit bids by no later than February 28, 2025. The Receiver’s complete recommendation and motion filings for the Court’s consideration and approval may be accessed here.
As part of the final bidding process steps, and before the Court will consider approving the sale of the Belize assets, the Receiver is providing the following public notice, in sum and substance, and opportunity for additional bids on this website and elsewhere:
On April 8, 2024, the Receiver sent consumers a Lot Choice Survey by email. By responding to the Survey, consumers made a choice about their future in Sanctuary Belize and Kanantik and what they would like to do with their lot.
The Lot Choice Survey is now closed. The deadline to make lot election choices was July 8, 2024.
Those consumers who elected to buy out available lots prior to the completion of the RFP process and enter into reformed contracts under the requirements of the June 14, 2023 Order and the Lot Choice Survey have been scheduling and completing the required closing process steps to seek to acquire title to their lots in Belize. For interested consumers who chose not to buy out their lots through the Lot Choice Survey, or whose lots were unavailable for transfer, you will have to wait to see if a Court-approved new owner of Sanctuary Belize and Kanantik may offer lots for sale in the future pursuant to terms and conditions that may be acceptable to you.
On August 16, 2023, the Receiver mailed the first round of redress checks to eligible Sanctuary Belize consumers. The Receiver didn’t send checks to Kanantik consumers because there has been no cash available for those claims up to this point in time.
If and when the Court approves the sale of Sanctuary Belize and Kanantik in accord with the Receiver’s Recommendation and Motion for the sale, it is expected that pro rata redress payments will be distributed to both Sanctuary Belize and Kanantik consumers.