WILLEMSTAD – The bankruptcy trustee of the former St. Elisabeth Hospital (SEHOS) has pushed back against criticism surrounding the sale of the hospital complex, saying the Curaçao government increased its offer from XCG 11 million to XCG 15 million only after the property had already been sold to Otrabanda Village B.V.
In a detailed letter dated October 7, trustee Danilo Narvaez responded to statements made by Minister of Traffic, Transport and Urban Planning Charles Cooper during a Curaçao Parliament meeting on October 5.
Narvaez said the government was informed on March 6, 2026, that the hospital complex had been sold to Otrabanda Village for XCG 10 million with the approval of the supervisory judge.
According to the trustee, Curaçao increased its offer from XCG 11 million to XCG 15 million that same day.
By then, however, the purchase agreement with Otrabanda Village had already been signed on March 2.
Narvaez stressed that the situation would have been different had Curaçao raised its offer before the contract with Otrabanda Village was signed. In that case, he said, the higher offer would have been considered along with the other factors relevant to the sale.
The letter provides important clarification following conflicting public accounts about how much the government offered for the property.
Narvaez said Curaçao initially approached him in July 2025 with an offer of XCG 4 million. That proposal came with conditions, including that the trustee abandon a claim of nearly XCG 80 million that SEHOS had against the Country of Curaçao.
The trustee rejected that offer, arguing that abandoning the XCG 80 million claim would not be in the collective interest of SEHOS creditors. He also considered the XCG 4 million purchase price too low.
According to Narvaez, the government did not make another offer until February 2026.
At that point, Curaçao offered XCG 11 million, approximately one week before the trustee signed the XCG 10 million agreement with Otrabanda Village.
Despite the higher price, Narvaez said several factors prevented him from simply abandoning the advanced negotiations with Otrabanda Village.
He said terminating those negotiations could have exposed the SEHOS estate to pre-contractual liability and potential damages.
The supervisory judge was kept informed about the negotiations and the various offers, including Curaçao’s higher proposal, according to Narvaez. The judge ultimately approved the XCG 10 million sale to Otrabanda Village.
The letter therefore establishes a more precise timeline in the controversy: Curaçao offered XCG 11 million before the sale agreement was signed, but its XCG 15 million proposal came four days after the contract had already been concluded.