The locally registered Polytex Import and Export Co. Ltd. will demand from the government at least 60 billion patacas in compensation if the government fails to grant the land concession of the mothballed Pearl Horizon mixed-used property project to company again, the Portuguese-language newspaper Hoje Macau reported yesterday.
The daily quoted the company’s lawyer, Executive Council member Leonel Alves, as saying that Polytex would take the government to court over the 60 billion pataca compensation demand – which would be the biggest in Macau’s history.
“Based on our provisional accounts, the minimum amount should not be below 60 billion patacas,” Alves, a former lawmaker, said.
