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GERS Final Demand for Payment from Seaborne
(Tuesday, January 14, 2014)
In the Board of Directors Meeting of Coastal International Airways, Inc. (parent company of Seaborne Virgin Islands) held on Monday, January 13, 2014, the Board voted to remove Austin Nibbs, GERS Administrator, as a member of the Board.
In the Board of Directors Meeting of Coastal International Airways, Inc. (parent company of Seaborne Virgin Islands) held on Monday, January 13, 2014, the Board voted to remove Austin Nibbs, GERS Administrator, as a member of the Board. Jaime a. Lopez-Diaz, Treasurer (CFO) of Seaborne Virgin Islands, Inc. was named as the replacement.
After Seaborne announced publicly in December that it would relocate its corporate headquarters from St. Croix to Puerto Rico, the GERS Administrator demanded payoff of the loans and received a payoff amount of $4,104,324.88 on December 19, 2013.
Seaborne is disputing $186,988.50 for legal and financial consulting charges. GERS Administrator, Nibbs, issued a final demand letter on January 14, 2014 for payment by close of business January 17, 2014, or will take legal action to collect this debt.
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