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Chris Sinckler and David Estwick Saga Continues – Money is Sweeter than Sugar

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Sir Trevor Austin Carmichael
Senator Jepter Ince
Jung Yun
Chris Sinckler, Minister of Finance
David Estwick, Minister of Agriculture

BU understands the Minister of Finance & Economic Affairs Chris Sinckler will play hardball with the sugar industry deal unless Minister of Agriculture David Estwick appoints BNB Capital Corporation to provide the financing for the new sugar factory. It is being discussed in certain circles that the minister of finance arranged for BNB Capital Corporation to handle the financing for the new sugar factory but Minister Estwick is not going with the flow.

Directors of BNB Capital Corporation  incorporated on 17 September 2014 are:-

  • Senator Jepter Ince
  • Timothy D. Joseph
  • Jung Yun
  • Sir Trevor Carmichael, QC

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234 responses to “Chris Sinckler and David Estwick Saga Continues – Money is Sweeter than Sugar”

  1. Chris Sinckler and David Estwick Saga Continues – Money is Sweater than Sugar – Vibe Audio StationVibe Audio Station

    […] Chris Sinckler and David Estwick Saga Continues – Money is Sweater than Sugar […]

  2. Gabriel Avatar
    Gabriel

    Given the names of 2 senators listed as directors,the question arises as to whether this might be classifiied as insider trading and if so what does it say to the stated pull out of other parties to the funding of this project.

  3. Bush Tea Avatar
    Bush Tea

    The MUST be some way that some of these crooks can be locked up…..

  4. ac Avatar
    ac

    professor Brass bowl could u say something of relevance and in a constructive manner that would help to heal the economic woes of the nation,,,,BRASS BOWL! U h must have been a prison guard in a past life,,

  5. Bush Tea Avatar
    Bush Tea

    something of relevance….
    …some of these shameless crooks and their lacky yardfowls need to be locked up…
    ..but at least we can expose the damn rats…….

    ….and wunna think that Plantation Deeds was exaggerating….?

    Piss off do! …. ac

  6. Bush Tea Avatar
    Bush Tea

    @ Gabriel
    …perhap you can see now why we always seem to be doing business with shady international characters ….like CAHILL….
    Whatever happened to the open bidding process? …where the best deal FOR THE COUNTRY won the day?

  7. millertheanunnaki Avatar
    millertheanunnaki

    @Gabriel | November 14, 2014 at 10:24 PM |
    “Given the names of 2 senators listed as directors,the question arises as to whether this might be classifiied as insider trading and if so what does it say to the stated pull out of other parties to the funding of this project

    That is more than insider trading (as in the case of the BL&P top management who made a killing off the Emera deal).

    That is plain bold-faced robbery of taxpayers. Do you really feel those guys can actually find investors willingly to put hundreds of millions of dollars in a dying sugar industry?
    These guys, including the MoF are just a bunch of con artists with the sole intention of bilking taxpayers by way of consultancy fees, inchoate finders’ fees, arrangement fees etc, etc; with nothing to show for those huge payments other than a series of service invoices similar to those concocted by David Thompson in cahoots with Leroy Parris.

    Are you forgetting the millions paid out to Avinash P, another professional scammer, in respect of the Four Seasons restart project?
    What about the millions paid for the Pierhead Redesign project and the Sugar Point design project. Have the Cahill WTE project design and finanacing arrangement fees ( including Dennis Lowedown 5% or 10% cut) been billed and settled?

    Do you now understand what is meant when the DLP parasites say: ‘It’s we turn now to feast on the fatted calf’?

    You think former poor boy Stinkliar and soon to be rich beyond his wildest dreams Jepter Physical Defict Ince going to leave politics poor and ordinary like the DLP ministers of old?

  8. ac Avatar
    ac

    professor have you ever read the profile of your chief minister in charge of BUP caswell ,, yet u have no problem with keeping him at the head of the helm.charges such as wife beating and documented charges alleging thief of govt property, yet u got nerve to pass judgement ,u bold faced hypocrite,

  9. Dr Love Avatar
    Dr Love

    Ho Ho Ho Ho!!
    I tol ya STINKLIAR wus gunna EAT alla Yuh!!
    Hard ears!!

  10. Dr Love Avatar
    Dr Love

    @David.
    You are to be Commended.
    Well done.

  11. Dr Love Avatar
    Dr Love

    This is plainly a plan for the Current Corrupt Government ministers involved, to become extremely wealthy and by using Chinese finance, (with payoffs,) thereby assisting the China Government to become the “de facto” owners of dear old Bim,when debts are called in and it will be all legal. (well as Legal goes in Barbados)
    The way already smoothed for the huge Chinese personal influx with very great assistance with immigration procedure.
    “Softly softly catchhee monkey”
    Old Sandi is NOT wasting his time over there.

  12. Dr Love Avatar
    Dr Love

    Jung Yun, Yun Capital

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    Jung Yun, Managing Director, Yun Capital

    Jung Yun
    Jung Yun

    Jung Yun has more than eighteen years experience in the areas of finance, investment banking, retail banking, structured finance and consulting. She is currently the Managing Director for Yun Capital, Yun Capital Asset Management, and CEO and Chairman of Helios Banc. Ms. Yun’s experience includes International Transactions in such countries as UAE, China, Korea, Japan, Colombia, Brazil, UK, and others. She also works with Heads of States in advising on economic policies in the areas of currency, developmental banking, mortgages, housing, infrastructure, green technologies and other areas of need.

    Ms. Yun’s experience includes being an investment banker for public/private companies in transactions ranging from $150M to $8B, including completing transactions in mergers and acquisitions. She also delivers financial strategy, business consulting, strategic alliance expertise to companies in which she invests. Ms. Yun has created several financial CDO, CMBS, and insurance products using derivative modeling. Ms. Yun’s list of companies of which she contributed to their growth include: JPMorgan, Reed Elsevier and others. She created and manage 5 Funds Internationally: Global Media Fund, Tigrcub Fund, Paean Fund, Maximus Fund, and Government Funds.

    Ms. Yun was selected to serve on Milken Institute’s Young Leaders Council, has published a sales and management manual recognized by Dale Carnegie, and a member of the American Bankers Association. She often speaks at financial seminars regarding the Capital Markets including: OPIC Annual Conference, African Presidents Healthcare Summit, Africa USA Business Executives Conference, Brazil USA Investment Conference, NYC Venture Capital Conferences and others. In addition, Ms. Yun graduated with honors from the University of Tennessee and is a proud member of the MENSA organization. She holds an annual fundraiser for American Cancer Society and resides in New York City.

    About Company:

    Yun Capital Asset Management
    317 Madison Avenue Suite 814
    New York, New York 10017
    Revenue: $1 mil. – $5 mil.
    Employees: 10 – 20
    Industry: Brokerage , Investment Banking , Finance
    SIC Codes: 6211
    Company Description:

    Yun Capital Asset Management is an independent full service investment management firm owned by Yun Capital, headquartered in New York. Partnered with Citigroup, Interactive Brokers and Wells Fargo, we also have offices in Salt Lake City, Latin America and the Caribbean. In business for over 9 years, we privately manage over $1.6B in four different funds: Global Media Fund, TigrCub Fund, Paean Fund and Maximus Fund. We also currently consult to retainer clients with assets in excess of $300M USD dollars. Yun Capital is an international private investment bank that specializes in creating new products and in participating in the funding of large-scale projects, real estate commercial and residential developments, mergers and acquisitions, and new technologies. In addition, Yun Capital is the founder and owner of Helios Banc, located in the Caribbean and the Latin Americas. Yun Capital brings a unique, passionate energy to creating its financial solutions. Each financing initiative is made up of creative and indefatigable financial problem-solving, a straightforward “can do” approach, and intuitive intelligence towards solving business challenges

  13. Dr Love Avatar
    Dr Love

    YUN CAPITAL
    Đăng ngày : 26-07-2012 | chuyên mục : Insurance Finance
    Yun Capital, headquatered in New York City, is an international private investment bank that specialises in participating in the funding of large-scale projects, including real estate commercial and residential developments, mergers and acquisitions, and new technologies

    Says it all:
    REAL ESTATE DEVELOPMENT:
    Nuff of that when an obvious failure such as a state of the art “sugar factory ” fails and takes all with it.
    DEVELOPED REAL ESTATE is VERY valuable to the “then” OWNERS of said Real Estate.
    What can this Government use as Collateral for a 400,000,000 Loan?
    Can it be YOUR LAND, Government Land .??

  14. Chris Sinckler and David Estwick Saga Continues – Money is Sweeter than Sugar – Vibe Audio StationVibe Audio Station

    […] Chris Sinckler and David Estwick Saga Continues – Money is Sweeter than Sugar […]

  15. Crusoe Avatar
    Crusoe

    ”It is being discussed in certain circles that the minister of finance arranged for BNB Capital Corporation to handle the financing for the new sugar factory but Minister Estwick is not going with the flow.”

    • Ho ho ho and a bottle of rum. Quack quack.

    Chihuahua run back in the kennel?

  16. Bush Tea Avatar
    Bush Tea

    As Man David….

    You are a damn BOSS……
    shiite man…
    Can’t even imagine how we would be without your contributions…

  17. John Hanson 1781-1782 Avatar
    John Hanson 1781-1782

    money and kick backs with greed, Sinkman looking to make money off the rate of return . We need to see the agreement before any of the crooks sign it , more vat and higher sugar prices to come , ,,,These fracking people still with the greed , Let agree to feed the fat man so his heart can give out , more pork for the pork eater .

  18. Bay Street Warriors Avatar
    Bay Street Warriors

    Minister Sinckler to review NSF offer
    Added by Emmanuel Joseph on November 15, 2014.
    Saved under Economy, Local News

    An alternative loan proposal that is designed to save the sugar industry from possible collapse is expected to go before Minister of Finance Chris Sinckler by Monday.

    Sinckler told Barbados TODAY this afternoon that analysis of the offer should have been completed by the experts in his Ministry by now and would be submitted to him with recommendations for him to “do what I have to do.”

    He said once he has dealt with the matter, it would go to Cabinet for a final decision on whether his ministry should accept a loan offer from the US-based National Standard Finance (NSF) to fund Barbados’ Sugar Industry Restructuring Programme (SIRP) which is slated to begin in January next year.

    Minister of Agriculture Dr David Estwick said in an interview with this newspaper last week that the original financiers had pulled out of the project and he had wanted Government to make a decision on the NSF offer before the deadline expired yesterday.

    Minister of Finance Chris Sinckler
    Minister of Finance Chris Sinckler

    Today, Sinckler said the NSF offer had not yet reached Cabinet, but it would be presented once he had completed his review and made the appropriate recommendation based on the advice of his staff.

    “I can’t say [if I would look at it favourably]. I am waiting on the advice of the experts and the officers in the ministries to see what their conclusions are,” he said.

    He said the Ministry has to properly and appropriately scrutinize the options available to Government as well as “what people present to you as proposals”.

    “And that’s what we are doing, and therefore we have to carry out that exercise with due diligence,” added Sinckler.

    Prime Minister Freundel Stuart today disclosed that discussion on the sugar industry was the focus of yesterday’s Cabinet meeting which ended around 9 pm.

    Speaking to reporters following a Blessing the Nation Service at the St Philip Primary School this morning, he assured that Government was committed to saving the sugar industry, “whatever of it still exists”.

    “For some considerable time now, because of local factors, but more so because of international factors, the sugar industry in Barbados has been in decline. I was reminded last night as we discussed the sugar industry that every year the Government has to support the sugar industry to the tune of $72 million. That is not a small sum of money . . . in the context of the other demands being made on the public purse. But we are aware that large numbers of people still are employed in the sugar industry,” he said, adding that his administration was also aware that the country still earned much needed foreign exchange from the industry.

    “The Government is therefore committed to ensuring that wherever harm can be avoided, it will be avoided; so to the extent that we spent so much time last evening discussing it, I have already intervened because we intend to ensure that no irreparable harm is done to the industry,” added Stuart with whom sugar farmers had been requesting an urgent meeting.

    However, he declined to set a deadline for the proposed multipurpose sugar factory at Andrews to be up and running.

    “I don’t want to do that because, quite frankly, we are going through some challenges. We have been going through some challenges for the last six years and we do not know when these challenges are going to effectively come to an end and, therefore, we have to concentrate on wrestling present challenges to the ground before we can be too ambitious about fixing deadlines for that transition from a sugar industry to a sugar cane industry,” he said.

  19. Bajan Yankee Avatar
    Bajan Yankee

    It seems Dr David Estwick has tried hard to keep his cool along with Donville Inniss to maintain the stability of the country. However, the action of the powers that be to hand all capital works to a Projects Implementation Unit headed by a PS Powlett where the West Coast Sewage Project to protect the most valuable marine resources is unacceptable.

    Its hoped Dr David, stands his ground and ignore what his friends say about him being unstable. Sad that most of his colleagues have the honor of being The Most Daft

  20. Bay Street Warriors Avatar
    Bay Street Warriors

    I guess Estwick can read between the lines that either this project is dead or the guys fixing to bring another arrangement for the funding.

  21. David Avatar
    David

    BU knows the surrogates of the Prime Minister patrol the blog, what will he do? Nothing?

  22. Sweetie Pie Avatar
    Sweetie Pie

    The deal being set up by Edward Marston, Estwick’s man putting the contracts for Andrew’s Sugar Factory together was based on Japanese finance. The rumour was that the financiers lost interest after the country’s credit rating was downgraded. Marston’s structure included an off-shore company which generated US$60 million over the life of the project. It was never clear who that money was going to.

  23. Johnny Goodman Avatar
    Johnny Goodman

    The Prime Minister has failed to get Chris Sinckler to sign off on the Mega Insurance/ Corporation deal to provide all the funding for the multi purpose Sugar Industry Factory for over two months.

    The Prime Minister has even failed to respond to correspondence drawing to his attention the gross incompetence of Chris Sinckler and the December 15th extended deadline for the deal to be closed.

    The Prime Minister is suffering from Diabetic Shock and should resign as he is now medically unfit to lead the country.

    David Estwick and Donville Inniss must weigh the pros and cons carefully as the voters don`t want the BLP as the same corruption is their ethos.However, history will hold them accountable for Barbados becoming a failed state for failure to destroy to build back a better Barbados.

    Donville,perhaps, a third party inclusive of Estwick with new blood and a new political doctrine of transparency may be the answer

  24. Disgusted Voter Avatar
    Disgusted Voter

    So it really comes down to if Marston and Estwick get more or Chris, Jepter and Trevor Carmichael.

  25. David Avatar
    David

    And then we have the lawyers, accountants and others close to the deals who keep know but continue to keep their mouths closed while the country slides into a deep pit. All the years of building Barbados to a proud little predominantly Black state, going, going…

  26. Gabriel Avatar
    Gabriel

    What is unfathomable to my mind is how and what have we become today.
    I did not grow up to expect this barefaced highway thieving and so I,like many fellow bajans and regional admirers of things Barbadian,are in a state of shock.What the hell is going on?And what is Freundel Stuart doing about it?
    Staurt,stand up and be counted.For once in your mediocre political career,
    pull back Barbados to a state of stability,fairness and even handedness.
    Christ!even a nite got to put ‘e han in de cookie jar?Wuh we comin’ to.

  27. Exclaimer Avatar
    Exclaimer

    @ David,
    “….All the years of building Barbados to a proud little predominantly Black state, going, going…”

    I believe that it was James A. Baldwin who stated that the most dangerous creation of any society, is the man who has nothing to lose.

  28. Chris Sinckler and David Estwick Saga Continues – Money is Sweeter than Sugar – Black Caribbean On-Line

    […] By David […]

  29. David Avatar
    David

    @Gabriel

    What IF there is a reasonable explanation?

  30. Special Special Envoy Avatar
    Special Special Envoy

    Reasonable explanation? Enlighten us?

  31. Bolts with Nuts Avatar
    Bolts with Nuts

    What is a government senator and an ‘independent’ senator doing setting up she’ll companies?

  32. Gabriel Avatar
    Gabriel

    David
    We are left to our own conclusions where it appears we are taken for fools or for granted.What should a reasonable person conclude other than the maxim..don’t be caught…

  33. Gabriel Avatar
    Gabriel

    Bolts
    Ince is not only a Government Senator…he holds the important and strategically placed position of Parliamentary Secretary in the Ministry of Finance and Economic Affairs.The question arises….is he fronting for
    someone else??The man is after a proven fool.You can explain to me how a financial analyst cannot understand the concept of a Fiscal Deficit and call it a Physical Deficit….or does not understand the difference between an
    umbilical cord and refer to it as an ‘umbiblical’ cord?The man is dense and susceptible to manipulation by the ruthless one tend to meet in boardrooms and political associations……

  34. Gabriel Avatar
    Gabriel

    ….the man is after all,a proven fool……..

  35. Bay Street Warriors Avatar
    Bay Street Warriors

    Seems that as soon as Sinckler became aware that Eswick has secured alternative funding to replace the Japanese, someone was given an instruction to go register BNB Capital Corporation. And people want to know why muffin in Barbados can’t get built, the boyz busy looking after the wrong interest.

    I don’t like the play on the name BNB especially when considering how bajans generally feel about Barbados Nation Bank (BNB).

  36. David Avatar
    David

    Are we unwilling to give Senator Sir Trevor Austin Carmicael QC the benefit of any doubt?

  37. Independent Avatar
    Independent

    @ David 10:28
    No comment, :-))

  38. Bay Street Warriors Avatar
    Bay Street Warriors

    A lawyer?? don’t make me f__king laugh

  39. David Avatar
    David

    @Independent

    We have two Senators mentioned, how do you think the other Senators in the current Session should respond.

  40. Hants Avatar
    Hants

    mmmmmmmm!

    http://www.nationnews.com/nationnews/news/59311/pm-worry

  41. Hants Avatar
    Hants

    Bod say so too.lol

  42. Bentley Avatar
    Bentley

    I suspect this is another smoke and mirrors like the last finance arrangement. More important than the list of directors is the list of financiers (financial institutions) behind BNB Capital Corporation. I find it hard to believe that any major financial institution would put money in the sugar industry given the publicly available financial data, the yield for 2014 and prior years and the current economic state in which Barbados finds itself.

  43. HAMILTON A HILL Avatar
    HAMILTON A HILL

    @ David…. Blog patrol is all about looking for someone to bring before the law courts. In some instances they practice intimidation. { I know whey ya mudda live, and I know whey to find he whey he living.} but they are driven to silence Caswell and the others who are privy to information that advertising dollars would normally ensure stayed behind closed doors. Caswell Franklin in the eyes of THE BARBADIAN CONNECTION is public enemy number one. Tek heed ? No to you I say F heed and F you ! You are driven by greed. Others are driven by need. Need to realize a more level playing field.

  44. Hants Avatar
    Hants

    David we should discuss the FCIBCIBC issue.

  45. Independent Avatar
    Independent

    @ David
    How I think they should behave is irrelevant. All senators and MP’s are to begin with partisan. In this case if there is a split within a party… I’m afraid senators and MP’s will be guided by: ” what’s in it for me”. That will determine how they behave.You still think that any of them care about “for the good of the country” (possible exception Professor Fraser), sorry David but I no longer have any illusions.

  46. Bentley Avatar
    Bentley

    Of note is the 9th Patrick Emmanuel memorial lecture given by Professor Hilbourne Watson on “The Caribbean at the Crossroads in the Crisis of Capitalism”. There is an article on page 6 of the November 14 Barbados Today. He makes dire pronouncements on the sugar industry. If you go back to BU of March 26, 2014 you will see that I made the same pronouncements.

  47. Dompey Avatar
    Dompey

    Hamilton A Hill

    Sooner or later we all come to know the difference between the Mentally-Ill and the Mentally-Disturbed. Your words have within them a repository of truth.

  48. Sargeant Avatar
    Sargeant

    One of the primary reasons I supported the DLP in the 2008 Election was due to the promise made by the late David Thompson in the fall of 2007 to a group meeting at a Hotel in the west end of Toronto to implement Transparency/integrity and Conflict of Interest legislation if the DLP won the Election.

    Fast forward to 2014 we have a DLP Gov’t and a Parliamentary Secretary listed as a Director of a newly formed Company that would benefit significantly from a decision which is slated to be made by the Cabinet of the Gov’t of Barbados. Is the Prime Minister aware of this development and if he is what will he do about it? Has this Parliamentary Secretary no shame or will any semblance of embarrassment be tempered by any profit he will make from this association? Is there a new moral stance where the guiding principle is “a politician who is poor is a poor politician”?

  49. David Avatar
    David

    @Sargeant

    IF he was not aware of it before, he is now.

  50. Disgusted Voter Avatar
    Disgusted Voter

    https://www.facebook.com/groups/boycottbanks/?ref=br_tf

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