GEDA watching settlement 'Havoc' closely
The Guam Economic Development Authority is watching closely whether John Laing and the Guam Motion Picture Company will follow-through on a settlement that was filed at the Superior Court of Guam earlier this week.
By KUAM Newsby Mindy Aguon
Guam - The Guam Economic Development Authority is watching closely whether John Laing and the Guam Motion Picture Company will follow-through on a settlement that was filed at the Superior Court of Guam earlier this week. According to GEDA administrator Karl Pangelinan, the agreement stipulates that Laing will pay $350,000, of which $250,000 must be paid on June 30 with the remaining amount due by September 30.
The board briefly discussed the matter during this afternoon's meeting. "We've been down this road before and we don't want to get burned once again," said Pangelinan. "But there are conditions that if he doesn't make the payments, then certain judgments will then be filed."
The board also discussed moving forward with the Guam Museum relative to GEDA's approval of an A&E firm with a notice to proceed. Pangelinan adds they are near inking contracts with other firms inclusive of additional projects.