Guam -Younex International released a statement today [Friday] saying it is reviewing yesterday’s Superior Court decision which declared the Guam Land Use Commission’s approval of Younex’s zoning variation for the Emerald Park Project NULL and VOID.
No further comment on the court’s ruling was provided.
The 2 sentence release simply states:
“Younex International Corporation has been made aware of recent court ruling regarding its condominium project. The matter is being reviewed internally for appropriate actions. Because this is a legal matter no further comments can be made regarding this matter.”
Younex Vice President David Tydingco is off island. But in a a texted response to PNC News, Tydingco stated “Our attorneys are looking at this so I can’t comment at this itme.”
Guam Superior Court Elizabeth-Barrett Andersen Thursday issued a “Writ of Judicial Review” which applies to the Younex development in Tamuning next to GMH. The development is also known as the Jones Town Project.
Work on the project was suspended last June after the banks backing the main contractor, Korea’s Hanil Corporation, were ordered by the Korean Government to suspend any further loans.