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Cahill Energy Agreements EXPOSE Prime Minister Stuart as Withholding the Truth from Barbadians

In her response to the budget of  June 2015 leader of the Opposition Mia Mottley gave impetus to the Cahill Energy debate when she shocked the country with the revelation that four ministers (Darcy Boyce, Denis Kellman, Chris Sinckler and Denis Lowe) had signed a Power Purchase Agreement with Cahill Energy dated 15 March 2014.…

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Clare Cowan
Denis Lowe, Minister of the Drainage
Denis Kellman, Minister of Housing
Darcy Boyce
Chris Sinckler, former Minister of Finance
Prime Minister Freundel Stuart

In her response to the budget of  June 2015 leader of the Opposition Mia Mottley gave impetus to the Cahill Energy debate when she shocked the country with the revelation that four ministers (Darcy Boyce, Denis Kellman, Chris Sinckler and Denis Lowe) had signed a Power Purchase Agreement with Cahill Energy dated 15 March 2014.

Signatures of Ministers Boyce, Kellman, Sinckler and Lowe on the Power Purchase Agreement
Signatures of Ministers Boyce, Kellman, Sinckler and Lowe on the Power Purchase Agreement

The government defended (not very well) the agreement with the Claire Cowan Cahill Energy company, however, subsequent events have proved the Fruendel Stuart led government withheld vital information from Barbadians.

Barbadians were NOT told that on the 13 September 2013 Prime Minister Fruendel Stuart signed a Heads of Terms Agreement related to Cahill Energy that committed the government to specific deliverables which have cost and legal implication for Barbados. For example, clause 5 of the agreement reads as follows:

section 5, heads of term agreement.
Clause 5 of the Heads of Term Agreement

Why did the Prime Minister remain silent on the matter of his involvement during the June 2015 budget debate? Why did he not defend Minister Denis Lowe – who had lead responsibility – and the other ministers who were heavily criticized for their involvement with Cahill Energy?

Prime Minister Fruendel Stuart's signature next to Clare Cownan, CEO of Cahill Energy
Prime Minister Fruendel Stuart’s signature next to Clare Cownan, CEO of Cahill Energy

What adds to the Cahill intrigue is the letter (parts 1,2) signed by Prime Minister Fruendel Stuart dated 3 March 2014 addressed to Clare Cowan advising that Cabinet approval was obtained and the agreement with Cahill had been submitted to the Solicitor General’s Office as part of the required due diligence process.

In 2013 Prime Minister Stuart in his head to head with Owen Arthur won the debate on the matter of who was perceived to have greater integrity by the public. The Cahill Energy transaction has given justification to those who now question the honesty of our prime minister. The public announcement last week by Minister Denis Lowe  – forced by the No Confidence Motion – is not the final chapter in the book titled ‘Governance‘.

217 responses to “Cahill Energy Agreements EXPOSE Prime Minister Stuart as Withholding the Truth from Barbadians”

  1. Redfactor101 Avatar
    Redfactor101

    Not sure what thAt wS all about but thNks I guess

  2. Due Diligence Avatar
    Due Diligence

    @Redfactor101 May 24, 2016 at 2:26 AM #

    @are we there yet

    To be clear Clare Cowan has in no way taken a huge personal loss on this plasma project.!!!! The money she stole from stupid collaborators like technip ,Spencer, Alex Iscoe and others was to pay for a condo mortgage in the four seasons which if the plasma project hadn’t come her way via seventh heaven properties would have been lost anyway.
    Her limited money came from her time working in London with the principal mortgage for her 48th floor condo being secured by a fraudulent accrued income letter from John Robilliard of Blenheim group stating accrued incomes from the Barbados deal which were a fiction .

    Weep not for this scammer she has made her living defrauding people for years and will no doubt resurface from her low rent apartment on Ellington avenue to do it again.”

    Your mention of Alex Iscoe reminded me that In a post at November 17, 2015 at 2:01 PM in https://barbadosunderground.wordpress.com/2015/09/21/ridgemount-fs-ltd-and-claire-cowan-statement-of-claim-court-case-cv-15-535661-ii/ DD said in part

    “In an email dated Septenber 4, 2015, from Clare to Neeta Chiryal (at TW) and copied to Dominic,, Clare explains that she has reduced the asking price for the condo to CDN $6,380.000 to make it competitive for a quick sale, at which “there will be just barely enough to cover Liz”.

    On September 17, 2015, the asking price was reduced to $5,998,000..

    Now, two months later, it has not sold; so $5,998,000 is obviously still too high.

    In the circumstances, it appears the principals at Ridgemount were not “rather ruthless fellows” in requiring additional security (the Goldcare shares); but are simply high risk lenders (loan sharks) who were shoring up their security before advancing, and now want their money back.

    Now, since the price is clearly going to have to be reduced further to, say $5,500,000, to find a buyer, Ridgemount will not be “made whole” from the sale of 4803, and will have to rely on the Goldcare shares conveyed/transferred to RCWT to get its money back.

    And Liz Spencer is SOL.

    It will be interesting to see how investment banker Alex Iscoe, who controls Ridgemount and RCWT, and now apparently Goldcare, deals with GOB.

    GOB will now be dealing with a far more sophisticated counter party.”

    Given that Iscoe/Ridgemount FS probably came up short on the $1.5 million second from the sale of the condo 4803, Iscoe now controls the assigned shares of Goldcare and CEL (for what they may be worth) and he will be the counter party with which GOB will have to deal.

    As a former Associate in Leveraged Finance with Goldman Sachs in New York, I am sure that Iscoe has all the ts crossed and is dotted and will be much tougher counter party with which the dufuses will have to deal than was MECC.

    DD does not think we have heard the last of this scam.

  3. are-we-there-yet Avatar
    are-we-there-yet

    DD

    WOW! It gets curiouser and curiouser!

    With MM now seemingly playing hardball, a few duffuses may not be able to sleep soundly at night for a while.

  4. Redfactor101 Avatar
    Redfactor101

    @DD
    Why would iscoe fight a battle for Taylor Wessing London lawyers who should be under investigation for duplicity in a fraud.
    Moscow will cut its losses if any and stay clear of the quagmire that is clare Cowan .

    Novation of contracts requires gobs approval
    Why would they do that.
    Cowan breached the contract first by not starting the waste study for more than a year after it was contractually obligated to.
    The concurrent arguments would take years to sort out and would require the support of unpaid creditors.
    It’s dead !!!!!!

  5. Due Diligence Avatar
    Due Diligence

    Redfactor101

    BTW

    What did 4803 sell for?

    Has it closed?

    Her low rent apartment on Ellington (Eglinton?) avenue?.

    What a come-down from 50 Yorkville.

    The come-down for the Ministers coming soon.

  6. Pieceuhderockyeahright Avatar
    Pieceuhderockyeahright

    http://imgur.com/1PgEVRT

    For those of you who noticed Publishing House’s error with the dates all I can say is that they called and told me that they are sorry and would not wish such agony on Bajans.

    Apparently the Editor made a mistake while online with the printer and was thinking about the Third Book ” Criss Cross Stinkliar Decimal 007 % fraction”

    I am having a problem with naming the book and would be appreciate of any suggestions for Book III

    The Book Launch unfortunately has had to be rescheduled “until further notice” since the Editor says that the Book Covers seem to be causing great contention among the Demonaic Lying Party.

    The editor stated that We Jonesing (of “the Childrun are is reading well”) was suggesting that the publishing of the Stupid Cartoons “has to stop” and that he proposed to come to the launch, instigate an incident by claiming that someone felt up his botsie, and “crack some heads and shoot some people”

    I have been reliably informed that, even though we have rescheduled the book launch, he insists that the feeling up of his botsie incident should still go ahead as planned. Much to the pleasure of General Sexcrewtary Pigrim who exclaimed that he wanted to get to the bottom of the matter very quickly.

  7. Redfactor101 Avatar
    Redfactor101

    Condo was sold for $5.6*** million and she was to be out of it the end of this month ( this weekend)
    However it is back on the market for $5.9** million as of May 16th very very strange.

  8. Well Well & Consequences Avatar
    Well Well & Consequences

    Alvin….looks like you and Clare “Cahill Scam”Cowan are now neighbors on Eglinton, ya’ll have a lot of commiserating to do…..lol

    Tell her Castro is allowing small and medium size business to operate in Cuba, their economy will take of in jet plane style. …no 700 million dollar scams though, no big grèedy businesses, no bribing politicians, that would be instant lock up.

  9. Well Well & Consequences Avatar
    Well Well & Consequences

    DD…lets hope the government minsters are sued individually and separately, let’s hope they signed private contracts with that crook Cowan, let’s hope Bjerkham and the other cockroaches also signed private thiefing contracts with her, then they can all live happily ever after in court.

    Cowan actually never honored her end of the Cahill scam contract, it was a non-starter.

  10. Due Diligence Avatar
    Due Diligence

    Redfactor101

    Strange indeed.

    Maybe Ridgemount FS took it over under POS, and trying to recover his $1.5 million

  11. Hants Avatar
    Hants

    IF NEGOTIATIONS are successful, the Barbados Light and Power’s (BL&P) wind farm project at Lamberts, St Lucy, could be up turning by year end. – See more at: http://www.nationnews.com/nationnews/news/81642/heather-lynn-habitat-wind-wind-farm#sthash.kMG525cV.dpuf

  12. ac Avatar
    ac

    Some of u need a bush bathe so much obsession with Clare Cowan

  13. Redfactor101 Avatar
    Redfactor101

    I wonder if iscoe is the seller this time
    ??? Having secured it as settlement for his debt??
    He pays the first mortgage of $4million and gets the rest of proceeds ???
    ac the path to the truth lies ( no pun intended) with the Canadian scammer.
    If there are incriminating contracts with all these assholes then Cowan should post them.

  14. Well Well & Consequences Avatar
    Well Well & Consequences

    AC can go up to Canada and wash Clare Cowan’s underwear, that’s the only use she will have for AC…girl ya tired of pimping for politicians in Barbados, just get your ETA form and buy your ticket.

    Typical idiot black, would know the likes of thiefing Clare hates their black asses, only want to suck their blood by stealing all their money for as long as she could, but AC the idiot is still trying to defend,

  15. Well Well & Consequences Avatar
    Well Well & Consequences

    Lol…looks like AC left for Canada…….good job girl.

  16. Redfactor101 Avatar
    Redfactor101

    Her moving truck hasn’t shown up at the four seasons yet

  17. Why the Haste to Appoint a Governor General? | Barbados Underground

    […] Cahill Energy Agreements EXPOSE Prime Minister Stuart as Withholding the Truth from Barbadians […]

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