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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CURRENT REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PURSUANT TO SECTION 13 OR 15(d) OF THE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES EXCHANGE ACT OF 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">April 18, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Date of earliest event reported)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSOLIDATED WATER CO. LTD.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; padding: 0; text-align: center; text-indent: 0">Cayman Islands, B.W.I.</TD>
    <TD STYLE="width: 34%; padding: 0; text-align: center; text-indent: 0">0-25248</TD>
    <TD STYLE="width: 33%; padding: 0; text-align: center; text-indent: 0">Not Applicable</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">(State or Other Jurisdiction of</TD>
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">(Commission File No.)</TD>
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">(IRS Employer Identification No.)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">Incorporation)</TD>
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Regatta Office Park</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Windward Three, 4<SUP>th</SUP> Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">West Bay Road, P.O. Box 1114</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Grand Cayman, KY1-1102</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Cayman Islands</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of Principal Executive Offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(345) 945-4277</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s telephone number, including
area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Not Applicable</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former Name or Former Address, if Changed
Since Last Report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="color: #333333; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(see General Instructions A.2. below):</P>

<P STYLE="color: #333333; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD NOWRAP STYLE="width: 4%; padding: 0 0 6pt; font-family: Wingdings; text-indent: 0">o</TD>
    <TD STYLE="width: 96%; padding: 0 0 6pt; text-indent: 0">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding: 0 0 6pt; font-family: Wingdings; text-indent: 0">o</TD>
    <TD STYLE="padding: 0 0 6pt; text-indent: 0">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding: 0 0 6pt; font-family: Wingdings; text-indent: 0">o</TD>
    <TD STYLE="padding: 0 0 6pt; text-indent: 0">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding: 0 0 6pt; font-family: Wingdings; text-indent: 0">o</TD>
    <TD STYLE="padding: 0 0 6pt; text-indent: 0">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 8.01.</B></TD><TD STYLE="text-align: justify"><B>Other Events.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ocean Conversion (BVI) Ltd. (&ldquo;OC-BVI&rdquo;),
an affiliate of Consolidated Water Co. Ltd. (the &ldquo;Company&rdquo;), has been involved in litigation with the Government of
the British Virgin Islands (the &ldquo;BVI Government&rdquo;) regarding OC-BVI&rsquo;s right to monetary damages and ownership
and possession of a desalination plant (the &ldquo;Baughers Bay plant&rdquo;) located at Baughers Bay, Tortola.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 18, 2012, the Eastern Caribbean
Supreme Court of Appeals (the &ldquo;Appellate Court&rdquo;) issued the latest ruling with respect to this litigation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 2006, the BVI Government notified OC-BVI
that it was asserting a purported right of ownership over the Baughers Bay plant. Shortly thereafter the BVI Government ceased
paying OC-BVI the price for the water supplied from the Baughers Bay plant that was in effect between the parties prior to the
time this ownership dispute arose. In litigation that subsequently ensued in the Eastern Caribbean Supreme Court (the &ldquo;Supreme
Court&rdquo;), the BVI Government sought ownership of the plant without compensation to OC-BVI and took the position that after
the date the ownership dispute arose, OC-BVI was entitled to be paid only for its costs to produce the water it supplied from Baughers
Bay. OC-BVI counterclaimed that it was entitled to full payment for all water supplied at the prices in effect before the BVI Government
asserted its purported right, and that it should be paid by the BVI Government for approximately $4.7 million in improvements it
made to the Baughers Bay plant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 28, 2009, the Supreme Court
granted ownership of the Baughers Bay plant to the BVI Government, ordered the BVI Government to pay OC-BVI an additional $10.4
million for the water supplied, and denied OC-BVI&rsquo;s claim for compensation for the plant improvements.&nbsp;&nbsp;OC-BVI
and the BVI Government filed appeals of the judgment of the Supreme Court with the Appellate Court in October 2009. In the intervening
period, the BVI Government has paid to OC-BVI $5.0 million of the $10.4 million awarded by the Supreme Court.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In its April 18, 2012 ruling the Appellate
Court dismissed the BVI Government&rsquo;s appeal against the judgment of the Supreme Court awarding US$10.4 million for the water
supplied. Furthermore the Appellate Court awarded OC-BVI compensation for improvements made to the plant in the amount equal to
the difference between (i) the value of the Baughers Bay plant at the date OC-BVI transferred possession of the plant to the BVI
Government and (ii) $1.42 million (which represents the purchase price for the Baughers Bay plant under the water supply agreement
previously in effect). OC-BVI was also awarded all of its court costs at the trial level and two-thirds of such costs incurred
on appeal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The BVI Government has the option to further
appeal this ruling by the Appellate Court to the Privy Council in England within 42 days of the Appellate Court ruling. Accordingly,
the amounts awarded by the Appellate Court will not be reflected in the Company&rsquo;s earnings from its investment in OC-BVI
until such time as the BVI Government pays OC-BVI such amounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 9.01.</B></TD><TD STYLE="text-align: justify"><B>Financial Statements and Exhibits.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d) Exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><U>Exhibit No.</U></TD><TD STYLE="text-align: justify"><U>Title</U></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in; padding: 0; text-indent: 0"></TD><TD STYLE="width: 1in; padding: 0; text-indent: 0">99.1</TD><TD STYLE="padding: 0; text-indent: 0">Press release issued by <FONT STYLE="color: black">Consolidated Water Co. Ltd. </FONT>on April 20, 2012.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0">CONSOLIDATED WATER CO. LTD.</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; width: 50%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 5%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 35%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">By:</TD>
    <TD STYLE="padding: 0; text-decoration: none; text-indent: 0; border-bottom: Black 1pt solid">/s/ Frederick W. McTaggart</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Name:</TD>
    <TD STYLE="padding: 0; text-indent: 0">Frederick W. McTaggart</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Title:</TD>
    <TD STYLE="padding: 0; text-indent: 0">President &amp; CEO</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: April 20, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>EXHIBIT INDEX</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><U>Exhibit</U></TD><TD STYLE="text-align: justify"><U>Description</U></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left">99.1</TD><TD STYLE="text-align: justify">Press release issued by <FONT STYLE="color: black">Consolidated
Water Co. Ltd. </FONT>on April 20, 2012.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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[{"type": "8-K", "sequence": "1", "filename": "v310135_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 20236}]
{"company-data": {"conformed-name": "CONSOLIDATED WATER CO LTD", "cik": "0000928340", "assigned-sic": "4941", "irs-number": "000000000", "state-of-incorporation": "E6", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-25248", "film-number": "12771329"}, "business-address": {"street1": "TRAFALGAR PL", "street2": "WEST BAY RD", "city": "GRAND CAYMAN BWI CAY", "state": "E9", "zip": "00000", "phone": "8099474277"}, "mail-address": {"street1": "TRAFALGAR PLACE, WEST BAY ROAD, P.O. BOX", "street2": "GRAND CAYMAN, CAYMAN ISLANDS, BWI"}, "former-company": {"former-conformed-name": "CAYMAN WATER CO LTD", "date-changed": "19941212"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
April 18, 2012
(Date of earliest event reported)
CONSOLIDATED WATER CO. LTD.
(Exact Name of Registrant as Specified in
Charter)
Cayman Islands, B.W.I.
0-25248
Not Applicable
(State or Other Jurisdiction of
(Commission File No.)
(IRS Employer Identification No.)
Incorporation)
Regatta Office Park
Windward Three, 4
th
Floor
West Bay Road, P.O. Box 1114
Grand Cayman, KY1-1102
Cayman Islands
(Address of Principal Executive Offices)
(345) 945-4277
(Registrant's telephone number, including
area code)
Not Applicable
(Former Name or Former Address, if Changed
Since Last Report)
Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(see General Instructions A.2. below):
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01.
Other Events.
Ocean Conversion (BVI) Ltd. ("OC-BVI"),
an affiliate of Consolidated Water Co. Ltd. (the "Company"), has been involved in litigation with the Government of
the British Virgin Islands (the "BVI Government") regarding OC-BVI's right to monetary damages and ownership
and possession of a desalination plant (the "Baughers Bay plant") located at Baughers Bay, Tortola.
On April 18, 2012, the Eastern Caribbean
Supreme Court of Appeals (the "Appellate Court") issued the latest ruling with respect to this litigation.
In 2006, the BVI Government notified OC-BVI
that it was asserting a purported right of ownership over the Baughers Bay plant. Shortly thereafter the BVI Government ceased
paying OC-BVI the price for the water supplied from the Baughers Bay plant that was in effect between the parties prior to the
time this ownership dispute arose. In litigation that subsequently ensued in the Eastern Caribbean Supreme Court (the "Supreme
Court"), the BVI Government sought ownership of the plant without compensation to OC-BVI and took the position that after
the date the ownership dispute arose, OC-BVI was entitled to be paid only for its costs to produce the water it supplied from Baughers
Bay. OC-BVI counterclaimed that it was entitled to full payment for all water supplied at the prices in effect before the BVI Government
asserted its purported right, and that it should be paid by the BVI Government for approximately $4.7 million in improvements it
made to the Baughers Bay plant.
On October 28, 2009, the Supreme Court
granted ownership of the Baughers Bay plant to the BVI Government, ordered the BVI Government to pay OC-BVI an additional $10.4
million for the water supplied, and denied OC-BVI's claim for compensation for the plant improvements.  OC-BVI
and the BVI Government filed appeals of the judgment of the Supreme Court with the Appellate Court in October 2009. In the intervening
period, the BVI Government has paid to OC-BVI $5.0 million of the $10.4 million awarded by the Supreme Court.
In its April 18, 2012 ruling the Appellate
Court dismissed the BVI Government's appeal against the judgment of the Supreme Court awarding US$10.4 million for the water
supplied. Furthermore the Appellate Court awarded OC-BVI compensation for improvements made to the plant in the amount equal to
the difference between (i) the value of the Baughers Bay plant at the date OC-BVI transferred possession of the plant to the BVI
Government and (ii) $1.42 million (which represents the purchase price for the Baughers Bay plant under the water supply agreement
previously in effect). OC-BVI was also awarded all of its court costs at the trial level and two-thirds of such costs incurred
on appeal.
The BVI Government has the option to further
appeal this ruling by the Appellate Court to the Privy Council in England within 42 days of the Appellate Court ruling. Accordingly,
the amounts awarded by the Appellate Court will not be reflected in the Company's earnings from its investment in OC-BVI
until such time as the BVI Government pays OC-BVI such amounts.
Item 9.01.
Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Title
99.1
Press release issued by
Consolidated Water Co. Ltd.
on April 20, 2012.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
CONSOLIDATED WATER CO. LTD.
By:
/s/ Frederick W. McTaggart
Name:
Frederick W. McTaggart
Title:
President & CEO
Date: April 20, 2012
EXHIBIT INDEX
Exhibit
Description
99.1
Press release issued by
Consolidated
Water Co. Ltd.
on April 20, 2012.