WORK EXPECTED TO START SOON ON DISPUTED COOK ISLANDS SHERATON SITE

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RAROTONGA, Cook Islands (June 11, 1999 - PACNEWS)---The Cook Islands High Court has ruled in favor of Max Holdings and Castle Group, the developer at the former Sheraton site, and has given the company two months to start construction on the long-planned hotel and resort project.

Chief Justice Sir Peter Quilliam said that Max Holdings was in breach of its lease with the landowners of Pa Ariki.

Justice Quilliam agreed, however, to an injunction stopping Pa Ariki landowners from forfeiting the lease before July 31.

The injunction is conditional on back rent being paid and brought up to date.

Both parties have agreed that a two-month period is a reasonable time for work to commence on the Rarotonga island site.

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