By Javaughn Keyes
Attorney-at-Law Debbie-Ann Gordon has resigned as trustee in the Mystic Mountain bankruptcy matter.
Ms. Gordon tendered her resignation late Friday afternoon.
She is the third trustee to be appoint in the matter, and her decision comes weeks after the courts blocked an attempt to remove her from the post.
Ms. Gordon said since taking up the post in August last year, she faced challenges in executing her duties.
A trustee in bankruptcy presides over the administration of the entity or person that has become bankrupt.
This includes analysing the state of affairs, reviewing claims against the estate and payout sums from the liquidation of assets.
As it relates to Mystic Mountain, Ms. Gordon said she has been told the sale of the company and its NorthJam has not made much headway.
In August, Radio Jamaica News was told the sale would be completed in September.
Sky-High Holdings is the agent for the secured creditor JCSD Trustee Services Limited which is owed $1.1 billion.
Northjam Island Tours was approved by the Supreme Court in August as the purchaser of Mystic Mountain.
The purchase price was US$13.4 milion.
Mystic Mountain was opened in 2008.
In September 2018, it entered into a bond agreement for the value of $1.1 billion to undertake expansion work. But the financial troubles for the company worsened in 2020 when the attraction was forced to close because of the COVID-19 pandemic.
Karibukai owns 100 per cent of Mystic Mountain Limited, which is in turn majority owned by Rainforest Adventure Holdings Limited.
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