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THE sale of Trincity Mall is officially off, as the government is set to agree to accept the consortium of buyers’ proposal for the return of their deposit and related costs. Newsday understands the government has been in discussions with the court-appointed liquidator on the proposal advanced last week on behalf of the consortium.

The consortium of buyers behind the $505 million purchase of Trincity Mall expressed its intention to pull out of the deal due to the criminal investigation into the sale of CL Financial (CLF) assets and the High Court injunction that halted the transaction earlier in October.

In a letter dated October 15, attorney Melissa Inglefield of Hamel-Smith & Company, writing on behalf of the buyers, informed Bernard Shepherd, SC, of Lex Caribbean, that her clients were seeking a full refund of their deposit and related costs following the injunction and police probe.