MIAMI--(BUSINESS WIRE)--Mexico Infrastructure Funds (MIF) today issued the following statement in relation to the recent decision issued by the Supreme Court of Bermuda regarding MIF’s suit to recover funds guaranteed by the Corporation of Hamilton for a development project in downtown Hamilton.

“We are disappointed by the Court’s ruling and continue to believe that the Corporation of Hamilton is responsible for repaying this loan. They unilaterally signed off on releasing the monies we lent to the hotel project, which are now known to have been misappropriated, and it was clearly within their power to issue a valid guarantee on the loan. We intend to immediately pursue recourse in other jurisdictions – namely, New York, as laid out in the demand letter that was delivered to the Corporation of Hamilton – to pursue what we believe is a just solution in this matter. We will explore additional jurisdictions to ensure that the rule of law is upheld and that future creditors to the Corporation and to Bermuda do not have their claims expropriated. It is unfortunate that this issue has not been settled and will continue to besmirch the reputation of Hamilton and Bermuda as a whole at a time when the country will be in the global spotlight.”