The lease on a tropical island owned by the king of Tonga has been put on the market in a receivership sale.
Although the king -- George Tupou V -- has issued a proclamation that Nukunamo Island cannot be mortgaged or used as security "for any purpose whatsoever", the receivers believe they can sell the 99-year lease.
The lease on the island was held by a first cousin of the Tongan king, Koloiana Naufahu, but was taken over after Naufahu failed to meet loan repayments to the Westpac Bank of Tonga.
The sale-by-tender advertisement, posted on the Matangi Tonga website on Thursday, says the island is being sold by the court-appointed receiver of Kololiana Naufahu.
The lessor of the island, which covers more than 66 acres (27 hectares), is listed as "His Majesty George Tupou V King of Tonga".
The rent for the successful lessee is 16,000 Tongan Pa'anga (7,900 US dollars) and the property is offered on an "as is where is" basis.
Copyright 2010 AFP Global Edition
