Ritz-Carlton Cayman owner issues libel writ

Saturday, February 14, 2004

GEORGE TOWN, Cayman Islands: Ritz-Carlton Grand Cayman development company Condoco Grand Cayman Resort Ltd and owner Michael Ryan and are suing KYC News for libel after the company published a report about the project on their website last week.

The Cayman law firm of Hunter and Hunter filed the writ of summons in the Grand Court of the Cayman Islands on behalf of the plaintiffs on Tuesday.

The article dealt with contractor Fluor Daniel Caribbean Limited suing the Ritz developer for breach of contract.

KYC News is a web-based subscription publication that covers offshore banking and finance issues, and that touts the motto, "The pen is mightier than the fraud." Their article about the Ritz first appeared on 5 February, and the headline is still posted on the site. Additional information about Michael Ryan also appears as part of their free information service.

In the letter that accompanied the writ, Hunter and Hunter states that the published article contained "statements that are plainly false and seriously defamatory of our clients."

With the court action, the plaintiffs are claiming damages for libel resulting from both their publishing of the article, and the subsequent airing of some of the information contained therein by Radio Cayman and CITN-Cayman 27, which Hunter and Hunter says also contained defamatory statements.

The plaintiffs also are seeking an injunction restraining KYC News from further publishing similar reports about the plaintiffs.

Hunter and Hunter has written to Radio Cayman and CITN saying, among other things, that a public acknowledgement was required admitting that their broadcasts were wrong. They also said their clients were unlikely to pursue the matter further if they complied with the requirements, while at the same time reserving the right for a future libel action against the two entities. 

Caribbean Net News also carried an article concerning the KYC News report, as did our sister publication, Cayman Net News, who received a letter from Hunter and Hunter as well, saying that certain statements reprinted in the newspaper from the report were false, without actually specifying what those false statements might be.

However, neither Cayman Net News nor Caribbean Net News reprinted the aspects of the KYC News article that Hunter and Hunter considered defamatory, so they said no remedial action was required of the newspaper.

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