Ritz developer still owes $6million to the public purse

| 04/11/2011

ritzcarlton_grand_cayman.jpg(CNSBusiness): Michael Ryan, the developer of the Ritz Carlton – Grand Cayman, has still not made any further payments to the public purse in respect of the duty he owes, which was deferred during the development of the five-star resort until it was finished in 2005. As local business owners struggle to find the money to pay duties, fees and other rising business costs during difficult economic times, one of the country’s largest developers still owes government coffers more than $6 million.

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