FORMER government minister Jack Warner has agreed to pay $3.7 million in the next 120 days, failing which three units at Emerald Plaza will be sold for $5 million to repay a judgment debt.
Justice Frank Seepersad made the ruling yesterday in the San Fernando High Court.
Warner appeared in relation to a judgment summons for $3,722,889.97 owing to Docs Engineering Works Ltd.
The Warner family bought the Scarlet Ibis Hotel in St Augustine for $6 million and transformed it into two and three-bedroom apartments and penthouses.
Docs was contracted by Warner’s company Le Sportel Ltd to convert the building into Emerald Plaza for $11,962,500. However, the contract was terminated on the basis of defective works and Docs' alleged failure to meet deadlines.
Docs, however, sued Le Sportel, which filed a counter-claim for remedial works, damages for delay and loss of income for rental.
In 2011, Justice Joseph Tam ruled in Docs' favour and ordered Le Sportel to pay $4,902,478.90 plus interest. The sum of $1.5 million was paid.
The balance is outstanding and Docs filed a claim against Le Sportel.
Warner was in court for the hearing, at which a consent order was entered into, under which the former FIFA vice president agreed to pay the $3.7 million by the deadline.
The judge ordered that otherwise, Docs may sell three apartments at the plaza by private treaty to recover the debt.