The Buccament Bay resort now has new life as fresh investors meet with the trustee in bankruptcy for the resort Brian Glasgow.
Investors include Jonathan Mills of Scotland, and Vincentians Kelly Glass and Barry Ferdinand.
Prime Minister Ralph Gonsalves at a media conference on Tuesday said the new investors signed a memorandum of understanding with the trustee in bankruptcy for Harlequin, owners of the resort.
Gonsalves said Glass and his group currently operates several hotels and are currently involved in two tourism related projects in Bequia.
Gonsalves said there are some other matters pertaining to land ownership that must worked out, part of the resort is built on land belonging to government while other portions belong to private individuals which is a matter of a civil suit currently.
Barry Ferdinand was born in Rose Hall and have been a property developer in the UK, while Mills is a Scotsman involved in tourism related projects in Scotland.
Another press conference is scheduled for Friday, all of the details should have been worked out by then Gonsalves said.