Harlequin Property Goes Bust!
Recent developments in St. Vincent with Harlequin Property SVG filing insolvency proceedings will lead to heavy loses for investors to be sure. This matter should be a concern for Barbadians because of the stalled properties owned by Harlequin in Barbados. As is the norm Barbadians will NOT be updated on this matter until the local authorities are forced to do so but what can they say? Yet another bogus project that will not realise foreign exchange promised by the local authority.
What has become obvious is that the race by Caribbean islands – including Barbados – to attract foreign investment appears to have local authorities compromising on performing robust due diligence. A simple Google search about Harlequin and or David Ames, Chairman of Harlequin would have alerted regional authorities to tango with caution.
We expect this matter will engage lawyers, accountants and the court system for the next many months, in the meantime the unfinished properties scattered across the region will continue to be an eyesore in our resorts.
Read the following the links for the latest:
Barbados Underground 
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All that glitters is not gold. Who gave these people planning permission?
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When Harlequin first stepped into the country – meaning Barbados – one little internet search gave the answer as to why this island should have said money first – and certain silly little people who use google already questioned their presence in the country before the foreigners could even buy a cutter for they were having problems already but no…our government love the world ‘invest in’ without looking into ‘wey de money’ turning the whole building and then employment issue into a national pride waiving flag until we get burned and are left with an eyesore and many go home with wages earned, not paid. We live in a dreamworld, so-called ponzi investors smell this from a mile away and just manage to bamboozle our money-hungry and ready-to-start ‘pompasetting’ governments who lay out the red carpet – one wonders who really are the foolish poppets around here and who really need to be the ones held accountable for being just plain dumb. And here we go again, another one bites the dust leaving us to be the laughing stock of the world, again and again and again. Knock that eyesore down and give the people a window to the sea. Do. We all know there will be no recourse.
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Once again the titled slaves in parliament g6it fooled fi6r their eye popping greed.
That Hyatt will be another dud, am sure the liar and crook Maloney is waiting to demand taxpayer’s money be used to prop up his coming failure.
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Wasn’t the esteemed DeLisle Worrell, Governor of the Central Bank of Barbados one of the local officials touting the Harlequin Projects as investments that would lead to growth in the Barbados economy?
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@Nostradamus
Good point and one made by BU from time to time. There is a sub committee of Cabinet allegedly reponsible for the investments/projects pipeline. With the failure to bring online several projects how will/has this affected government’s plan to boost/invigourate the Barbados economy. Will we hear from those in the know.
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I would like to know about the sale of Four seasons as stated by the MOF in the last budget speech……who bought it,for how much,what will it be utilised for,how many locals will be employed to build&operate it and the time line start to finish with the cost.
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@Vincent
Did he not also bellow that it will be debated in parliament soon? Isn’t the parliament still on recess?
#lazybuggers #nerofiddling
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Yes David,we have heard of the Summer Recess of Parliament.Now we have Autumn Recess.The LOO seem satisfied.
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It was a saying among owners of chattel houses that when the neighbour’s house is afire you must wet your own. St. Vincent learned nothing from the Barbados experience and sadly Barbados has learnt nothing from its past history on foreign direct Investors.
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David,
The Harlequin Investment group was not formed yesterday. The plans were not submitted and approved yesterday. Their investments were not obtained yesterday. As advises check out Google and you will see how long ago the whole thing started.Check and report the truth to BU readers and contributors
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@Alvin
What is your point? We all accept you wear a defaul DLP lense.
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Alvin Cummins October 17, 2016 at 12:08 PM #
Now that you are here………Could you answer my 4 seasons question above.
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Alvin
Can you give us a status report on the Pure Beach Resort – promoted by the Canadian/Korean (Toronto) promoters and endorsed by the Attorney General.
See: https://barbadosunderground.wordpress.com/2013/09/07/pure-beach-resort-the-second-coming-of-harlequin/
“With the embarrassment of Four Seasons, Harlequin/Merricks and other similar “investment opportunities”; Barbados can ill-afford another tarnish on its reputation as a place to invest and own a vacation home. Perhaps, if presented with these findings, Government will take whatever action required to stop the madness, prevent any further investment by unsuspecting and unsophisticated “investors”, and spare Barbados the further embarrassment of another major financial scandal should (when) the PURE house of cards comes tumbling down.
Due Diligence hopes the Central Bank Governor’s projection of private capital inflows of $600 million in 2013 is not counting on PURE Beach to make a contribution to that figure.”
Interestingly; Central Bank Governor’s projection of major projects to be started in 2016/2017 includes Pure Beach Resort to be started Q4 2016 – value $300 million.
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Lol…ah hope you are not expecting a truthful answer from Alvin.
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@ Due Diligence October 17, 2016 at 3:45 PM
“Interestingly; Central Bank Governor’s projection of major projects to be started in 2016/2017 includes Pure Beach Resort to be started Q4 2016 – value $300 million.”
There goes that magical figure of $300 million (again)! A real ‘reiteration’ of statistical fudging of the cooked foreign reserves books.
The old yard bird called Alvin the Chi(c)nkmonkey should also tell us if the same Guv will be including the Hyatt Erection which is scheduled to start construction within two months according to motor-mouth minister Donville and included in the forex inflows for 2016 as announced in August by the chief liar.
DD, do you know if the money for the Hyatt Tower of Babbling is foreign money (FDI) or is it NIS raided funds aka locally wasted investment?
One thing about you DD, the MoF and his sidekick the Guv of the CB could fool the naïve stupid Bajans (including the Opposition) with their massaged statistics but clearly not you, my erudite friend.
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Many of the land fraud businesses are coming to an end, More will show to be also fraud just now, People love to love people with money and land that have no roots,
Suckers are made and some are born, Crooks are made up to fools others, All thing have owners , The right owner must be known before business and move ahead,
CLICO, 4 seasons and here come HYATT, We already seen The Oval and the High Court fraud,
People must seek truth before looking to do business in Barbados , Minister and Most lawyers are crooks, Do your home work or you will loose your savings, Avoid First Caribbean
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David and DD, as well as Well Well and Miller,
Do the research yourself and report.
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@Alvin
If you have doneresearch why would you not share?
Then again we all recall your contribution to. Cahill.
>
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Well Well, DD, David et al,
Ames, Townsend, Pemberton, Harlequin, Four Seasons,Allard. All Scam artists, U.K. lost investments.Irish investors and Irish Court, Scam artists. all ingredients in the same pot of stew. As I said long ago. You know the truth. Don’t blame this government. And it has nothing to do with chicken stew, whether yard fowl, or yard duck. Do your research and report truthfully.
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Alvin….it always comes out in the wash.
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Alvin..here…ya need to stop ya fraudulent ways..not everyone has a short memory.
Well Well & Consequences October 17, 2016 at 5:47 PM #
Alvin just admitted on another thread that the 4 seasons was a scam with Pemberton, Bizzy and Cow scam artists leading…so ehy did that jackass David Thompson and all the other idiots in parliament take up taxpayer’s 60 million dollars US to use as collateral to pay those crooks who were also vendors and others. ..knowing 4 seasons was a scam…
Eh Alvin…they knew it was a scam, you said it was a scam…but you dont want the government to take blame…idiot, that was the taxpayer’s money, how will they get it back now when Bizzy, Cow and all the other crooks dissolved the scam company in London this year.
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ttps://www.youtube.com/watch?v=RZKo-AIOBDA
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Note Alvin avoided Pickering. #cluckingtime
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So Alvin why did DLP government deal with the Pemberton’s for example?
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millertheanunnaki October 17, 2016 at 4:25 PM #
Thank you for your kind comments.
You said “DD, do you know if the money for the Hyatt Tower of Babbling is foreign money (FDI) or is it NIS raided funds aka locally wasted investment?”
DD says – Money? Wha money?
It’s all a bunch of baloney – or is that Maloney?
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Alvin cares so little for his own people in Barbados that he does not care that the clowns in parliament he pimps for took up National Insurance pension fund, social security money for the senior citizens and put in the scam they knew 4 seasons was., that is how callous and uncaring they all are with the people’s money, pick it up and give it away to whomever approaches them with a scam.
Alvin..when will NIS pensioners get back their money.
I told you, most people on the island have short memores but not everyone living outside have short attention spans.
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@ Well Well & Consequences October 17, 2016 at 8:18 PM #
“Alvin..when will NIS pensioners get back their money.”
In the comforting words of Stinkliar to the Bajan fools: “Shortly” or as soon as the cheque in the mail arrives on his desk.
That man has been promising the resolution of that “All Seasons” fiasco since September 2012.
Isn’t it time the real Four Seasons sue the Barbados government for the ‘illegal’ use of its brand name and logo?
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@ Alvin Cummins October 17, 2016 at 5:37 PM
It’s a pity your Canadian friend Clare the Con-woman was unable to learn from those male scammers. You might be sitting today on your kickback share of the Cahill nest egg, right Alvin the go-between?
Where is that money (US$ 270 million) the Japanese ‘allegedly’ lent the Barbados government to build a brand new state-of-the-art cane sugar factory at Andrews which was earmarked for January 2016 to begin producing all sorts of fancy sugars for export and to generate 25 megawatts of electricity?
Now you go and do your research and “report truthfully” or else we will expose not both you and Stinkliar to be nothing but genuine strangers to the Truth.
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While the Barbados government does have a track record of getting involved in certain projects, I am unsure this is one of them. Finding investment money isn’t easy. We may ask why several of the larger locally based business are investing largely in projects not in Bim.
Barbados is expensive, and the world is discovering many places have sun and sand, less costly labour and land, and are closer to major markets.
Even in NA, government at all levels are giving away plenty to just KEEP jobs. After throwing 7+ trillion at the economy America’s growth is less than 2%. Take away that money and growth is negative. Hence you cannot expect to attract AAA+ credit risk investors. You need dreamers, those who are willing to take risks and that includes several marginal types.
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Just what Barbados requires: another 45 recently qualified and surplus to requirement lawyers.
http://www.barbadostoday.bb/2016/10/17/when-our-market-seems-saturated-with-lawyers/
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Miller;
You ask “Alvin..when will NIS pensioners get back their money.” Are you speaking about money that your government’s approVAL OF THE $ SEASONS project (fiasco) left office with investors in that scam with a similar situation as Harlequin? They were the same or similar investors (all from Britain) who were left holding the bag? Note both of these scams were PRIVATE SECTOR driven. The invitation from Harlequin was an offer of 10% RETURN ON INVESTMENT..SOUNDS LIKE TRADE CONFIRMERS, CLICO, VILLA NOVA, AND ALSO PICKERING, WERE SIMILAR TO SO MANY OTHER SCHEMES WITH their genesis outside of the island. David should also publish his findings on these schemes. I already knew these things but I wanted someone other than me to produce the evidence.There is more, so those findings should also be published.
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Exclaimer,
Everyone has the right to study whatever one wants. It is a personal choice. You cannot determine what the island’s needs are.
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Well Well,
Please note that as David’s contribution showed, it was the European investors who were warned about investing in the Harlequin group:British consumer watchdog the Financial Conduct Authority first warned IFAs not to recommend investing with Harlequin Property in January 2013.” The dates are important for your information.
Are you on the side of British investors? See how much money was realized? Did you think this amount came out of the NIS? See how silly you are?
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Did you not read the article Alvin? There is a glut of lawyers on the island. The UWI should be reformed as it does not address the needs of the region. We are wasting finite resources on a limited number of students whose skill sets are not required. Surely a man of your status can understand this.
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Yours is a very simplistic reply. Of course individuals will follow their dreams but if there is a strategy for national development many will be encouraged to follow that path. Singapore and others have been successful in this regard by implementing incentive programs. In other words leaders cannot surrender on the obligation to demonstrate leadership.
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“Alvin Cummins October 17, 2016 at 5:37 PM #
Well Well, DD, David et al,
Ames, Townsend, Pemberton, Harlequin, Four Seasons,Allard. All Scam artists”
Alvin….when are you going to stop being a hypocrite, you always get caught in your own lies.
Four Seasons scam artists as posted by you.
Pemberton
I will add the 2 thieves.
Cow Williams
Bizzy Williams
And others
Mia Mottley as attorney for the 4 seasons scam artists will know who those others are….what investors in London what, you retard, the company in London was registered to the Williams crooks.
Why did the government of Barbados pick up pensioners NIS fund and invest with known scam artists from Barbados and London on the 4 seasons scams, when will the pension fund see back the 60 million US dollars from that scam., those are the questions Alvin…lying and trying to duck will not answer them.
Miller…I said on here already and I will say it again, Alvin is an extremely wicked black man.
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“You need dreamers, those who are willing to take risks and that includes several marginal types.”
But those risks should not be taken on a tiny, very poor island like Barbados, not with pensioner’s money, definitely not…..and not with taxpayer’s money who always end up losing their money…
……they got big dreams those big dreamers, let them go find their own investors, venture capitalists abound worldwide, that is what entrepreneurship is all about, finding your own investirs, not mooching and leeching off poor pensioners and taxpayers, people who worked for below minimum wage and low wages all their lives and expect to receive theur small pensions nearing theur end of their lives only to hear their governments allowed thieves like Bizzy, Cow and Pemberton to burn their money in a scam..
To add insult to injury these same scam artists expect to hire the same taxpayers who the government allows them to rob, pay them slave wages on these same projects and treat them like slaves…well we seen recently that if they cant treat bajans like slaves, the government allows these scam artists to import other Caribbean people as slaves and pay them slave wages instead.
No scam project is worth any of that…the low wages are bad enough but government using taxpayer’s money and pensioner’s money to facilitate crooks in their dreams and scams is unconscionable. ..there is no comparison to North America.
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I want to ask a foolish question. Do we know for sure if the money invested in four seasons in the beginning stages came from outside Barbados? What proofs do we have that that four seasons was not all local, but meant to take on the appearance of overseas investment? I would think that an arrangement was in place. How else can you support the government’s move to invest 60 million, if the warning signs that this project was on a road of doom from its initial offset? After all, all is not what it seems to be.
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SSS…good question seeing that when Thompson made a big radio announcement about taking taxpayer’s money to prop up the 4 seasons crooks, with Mia as attorney for those crooks, while both Thompson and Leroy Psrris were raiding CLICO and stealing millions from the policyholders. ..good question indeed.
You see the collusion between government ministers/ politicians and the private sector business people to steal from the taxpayers, the treasury, the pension fund. ..it’s them against the people…the people always lose.
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@ WW&C
I said on here already and I will say it again, Alvin is an extremely wicked black man.
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
No need to go overboard.
Alvin is simply an idiot.
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Ah keep forgetting….lol
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@What- a- mess,
You posted: “…another one bites the dust leaving us to be the laughing stock of the world, again and again and again. ”
What laughing stock? Donald Trump, the presidential candidate of the world leader; the United States, has declared Bankruptsy Six times. He reported a loss on his businesses of over one billion dollars in 1995, which gave him a deferment of his Income Tax payment for over twenty years. Who is laughing at him? He says that is being smart, from a business perspective.Nobody is laughing at him.
Why do we adopt such a negative attitude to ourselves?
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Donald Trump used bankruptcy as a get rich quick scheme in the US…do you understand that Alvin…do not try to wrap your mind around the complexity of chapter 11.
Yall like to copy lowlifes and dirtbags too much, particularly when they white.
What is the slaves in parliament excuse for bankrupting Barbados and giving away taxpayer’s and pensioner’s money…Alvin..explain.
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Well Well, David, Miller,Bushie,
By now you should all know that epithets and name calling do not affect me. I may be an idiot, although I am not wicked, as determined by Well Well. However, I always tell the truth, and David’s posting of the Harlequin is evidence of what I have been saying for a long time.
That is why I challenged others to do the research and publish their results.
“The bankruptcy case is being brought by a group of 24 Harlequin investors known as the Davies 24, and relates to an earlier settlement agreed in 2014 in which David Ames agreed to pay them £1,300,000 to drop their case against him, in which the investors alleged Ames and his wife Carol made false claims about the risks involved in investing in Harlequin.”
Contrary to the stories from Well Well and others, the money was taken from the NIS to invest. It must be noted that the sum of money involved was in the vicinity of 400 million Pounds (calculate the total amount based on the exchange value of the Pound, in Bajan currency of the time) do you really believe this could have been taken from the NIS or even Bajan investors? The amount invested came from UK investors putting funds from UK investors in the projects; people like Simon Cowell, Sir Andrew LLOYD WEBBER, ETC. THESE ARE HARDLY THE “poor hard working Bajan pension contributors” that she speaks about. You should also note from David’s post the Ames was the sole owner of the properties of Harlequin.
It is time that you drop your belligerence and angst against the present government and give the facts, as they are, or as is said in Bajan parlance ;True facts. Instead of expressions of disdain for those you consider as yard fowls; as opposed to Yard ducks,you should “cool yuh passion” and contribute meaningfully to the welfare of the country.
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Well Well,
YOU ARE SO WRONG!!!
You said: “Donald Trump used bankruptcy as a get rich quick scheme in the US…do you understand that Alvin…”
BULL SHITE!! Trump did not use his bankruptcy (six times) as any get rich quick schemes. He used that method so as to avoid paying personal Income Tax, as required by law. And he had the nerve to boast when he debated Hilary Clinton, that it was being smart. And you dare to try to justify that behaviour? That is why I hold you in such contempt. You are a fraud and a hypocrite.
There is no need to explain anything to people like you. The standard of living Bajans enjoy, their GDP, and other indicators of an advanced society can be explained by judicious use of the money taxpayers provide. If everybody was like Trump we would really be bankrupt; which we are NOT.
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Alvin…did you do economics at school, I gather not, when you do not pay income tax for 20 years, you pocket those millions, get rich quick, it was being smart because he made billions, spent it just as fast, but it enriched him quickly.
When you bankruot your company and file chaoer 11, in Trumps case, he refused to pay creditors and everyone else, pocketed the money, got rich quickly.
http://ow.ly/BYUT305iLXs
Alvin…sometimes you are really too stupid to discourse with…so read, you will maybe learn something,
As for Barbados..I will let Moodys and Standard & Poors deal with you.
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Alvin…you lie, the IDB, just had an article on the NIS pension fund 60 million dollar money used as collateral to pay debts for 4 seasins…invest in what, they had to money to continue, owed Simon Cowell and others they robbed and owed VENDORS millions.
So what was the government taking pensioners money and invest in…debt.
Alvin…you do not have a head for business…so shut up and stop demoralizing and degradjng yaself lower than yardfowl level.
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Well Well ,
you are wrong again. Seek to understand why?
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Alvin Cummins
So……what is going to happen at the old Paradise Hotel site at the bottom of Cave Hill?
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Ah wonder when the pensioners will get back the 60 million in US money Alvin that took from NIS and “invested”.
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Since the thread has gone to the NIS, I recall sometime ago (when the Banks sale process began) a Dr Robinson (??) posting on BU…I think he was the NIS Chairperson at that time…regarding why the annual reports were so outdated and efforts being made to correct this issue.
I note, the website of the NIS was later completely revamped, It no longer included annual audited reports or any commentary, rather a link to “Investements” which broadly classified amounts. It doesn’t even reference those person on the Board or its senior management.
Can you imagine large public companies as listed on the BSE, NOT submitting Annual Reports?
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I dont know what investments that idiot Alvin is talking about, he needs to tell the pensioners why he took their NIS money all 60 million US and “invested” it in 4 season’s scam…and he is now saying he knew it was a scam…steupss.
On a much, much lighter note… MoneyB where are you, they got a naked statue of your girlfriend Killary in Manhattan…lol.
http://ow.ly/wBiy305j018
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De Harlequin cup is half full!!!!!!!!
H hotel to ‘restart work in 2017’
http://www.nationnews.com/nationnews/news/88203/hotel-restart-2017
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Hard knock
http://www.nationnews.com/nationnews/news/88225/hard-knock
Hahaha. .lol.., now the small time, petty crook that is Mark Maloney will know what it feels like to swim with real sharks, he could only talk down to bajans him and Bizzy, but these bad boys will let him know who is what and what for…lol
The locally grown leeches, parasites and welfare rats in the minority community needs to be taught a valuable lesson that bajans are not equipped to teach them….lol
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Well Well, Miller Frustrated businessman et al.
You people are always getting on as if only Governments incompetent. I am glad that this expose of PRIVATE BUSINESSES are among the biggest losers there is. The collapse of Harlequin, is yet another example of scam artists bilking the people,; those who do not exercise Due Diligence, before they place their own funds in the hands of others.
Vincent Haynes, the old Paradise hotel is the Proposed Four Season. Since the Government has apparently taken over the Four Seasons, it must be assumed that their “investment” will mean that this property will have an asset value and will be the property of the government (NIS pensioners’ “investment”; Well Well).
I WROTE ON THIS SITE SOME TIME AGO OF THE MACHINATIONS IN THE CEMENT industry, pointing out that Cemix had purchased not only Arawak, but that they had cornered the market in all the islands, but as usual, you people didn’t pay attention to “Alvin the idiot”. Now you see.
By the way, Well Well, I DID do economics; not to degree level, but as part of my Diploma in Public Administration, at the University of Toronto (class of 1978). Even today I can remember the textbook we used; Economics; by Lipsey Sparks and Steiner).
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Alvin…that economics course dud nothing to help you or you would have seen Cahill and Clare Cowan for the scams that they were.
Alvin..when will the pensioners get back their money the government stole from them and gave away to the 4 seasons crooks.
Have you taken a look at the 16 acres of 4 seasons decay, a few years ago my family and I on a trip, walked the beach and were shocked and appalled, it’s too ugly to even take photos…, where is the pensioner’s 60 million US dollars Alvin.
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Well Well,
When I last checked to land was still there. None of it was pocketed. It would not fir. The money was “invested” in the property which is still there. What do you estimate is the worth of of the PROPERTY? I would expect that this is the property of the government NIS Investment portfolio.That is where the money is. Government never STOLE anything from anybody. There you go again, raising false alarms, and spreading disinformation.
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@ David (BU):
Any word yet on the Central Bank Governor’s report on Barbados’s economic performance for the 3rd Qtr 2016?
It would be most interesting to find out the foreign reserves position and what would be making up the FDI inflows for the balance of the year.
But one thing for sure is that the Guv will be doing a ‘convincingly’ mercurial job in projecting the millions of forex that will be spent by the visiting Diaspora in celebrating 50 years of Independence and the multiplier effects on immediate economic growth enough to jack up the projected growth rate by at least 1%.
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@Alvin
“I would expect that this is the property of the government NIS Investment portfolio.”
So would I.
But why has the NIS failed in umpteen years to provide the owners of the NIS with a properly documented report on the financial in and out flows, and some commentary to support its activities?
This what we get….http://www.nis.gov.bb/investments/
It is completely unacceptable, regardless of who is the government, that annual reports on what is the people’s largest asset are not provided.
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@ Alvin Cummins October 20, 2016 at 12:41 PM
“When I last checked to land was still there. None of it was pocketed. It would not fir. The money was “invested” in the property which is still there.”
Should this approach to ‘wasted’ resources be applied also to the Sugar Point Cruise Ship terminal which should have started construction since January 2014 and the Andrews Modernized Sugar Cane factory which should be grinding at full speed for the 2017 bountiful sugar cane harvest?
Now that should put you on the back-pedal of “yard-fowlism” for awhile.
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The economic reviews have been coming later and later haven’t they. At a time of economic uncertainty for the country one would have expected some efficient communication with the public by the gatekeeper of economic information. Then again this government has shown it is about stealth. Shouldn’t the central bank appear to be independent?
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@ David October 20, 2016 at 3:16 PM
And this kind of sloth and un-professionalism is from a man who is always blaming Bajan workers for low productivity and the drop in standards of performance in the workplace.
But what can you expect from a quack who is only good at ‘doctoring’ economic and financial statistics to appease his political masters.
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@Miller
Interesting you mentioned national productivity. Did you read Roy Morris this week? He did an analysis/time series of the number of sittings by this poorakey parliament over a ten year period. It is not surprise which parliament was found wanting.
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@ David October 20, 2016 at 3:50 PM
It’s a matter of utmost disgrace. When did the parliament last convene? Since the middle of August when the budget was presented?
Why couldn’t these lazy bastards just take 4 or 5 weeks off just like any other top manager?
It’s a crying shame of utmost hypocrisy for the likes of Minister Inniss to berate workers for poor attendance low productivity while encouraging his colleagues in this blatant game of skiving.
Imagine Inniss is now the biggest proponent of Privatization and public sector reform but not a word from him about the bloated obese cabinet in which he is ‘gluttonously’ embedded.
Isn’t that cabinet also in need of reform in order to lead by example?
And this is from a man who played a crucial part in the defeat of the BLP when- at his own Constituency Branch meeting- he along with Stinkliar accused the BLP of planning fire 10,000 workers and to privatize the same services the DLP is currently undertaking to ‘temporary’ outsource (euphemistically speaking).
What slogan will the DLP think of next? Accuse the BLP of planning to ‘Devalue’ the Bajan dollar? In that case they could remain in office until June 2017.
Karma can be one political Bitch of retribution.
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Alvin…as I said, economics is not your forte, stivk to what you do best…pimping for politicians.
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Well Well,
It is not yours either, and neither is honesty and truthfulness. Spite and epithets are definitely at the top of your accomplishments. Sad.
Miller, Coral does not grow back in a short time. Read the environmental impact study. I did.
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Miller,
“…what can you expect from a quack who is only good at ‘doctoring’ economic and financial statistics to appease his political masters.”
Wasn’t he a very Senior Economist both at the World Bank and the IMF? Isn’t he the author of several scholarly works on Economies and economics? Didn’t the same “masters” the IMF oversee and make recommendations over the years to your government, of which you would have been a senior member? Weren’t they your political masters? As Obama would say “come on!!”
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Miller, again,
“…accused the BLP of planning fire 10,000 workers and to privatize the same services the DLP is currently undertaking to ‘temporary’ outsource (euphemistically speaking).” You should be pleased they followed your advice and forward planning. And you people have been warning people that the DLP was threatening to devalue the dollar for many years.. remember, before Arthur came to power?This talk comes up just before every election.
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@Alvin
Curious if you have hooked up with Clare Cowan recently.
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Alvin…it’s only spite to you because you cannot reduce my mind to one of a yardfowl believing in outdated, antiquated nonsense and the lies of mediocre politicians.
5 years from now we will still ask you where is the pensioners stolen 60 million US dollars while the 4 seasons scam, your “investment” will still be sitting there rottening away, unless the dummies in parliament give it away first.
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Alvin is an idiot
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Well Well,and Miller,Among others,
Land does not rot away. The buildings were rotted away when Butch Stuart purchased the property. What I will keep pushing in your head IS that the 4 Seasons was a Private Sector project (Scam) WHAT government did was to obtain the property that had been savaged by the neglect brought on by the PRIVATE person who had savaged the property. Read my comment/ARTICLE, published in the Nation at the time, on the Trees at Batts Rock.I WILL ALSO KEEP REMINDING YOU THAT THE BARBADOS LABOUR PARTY WAS THE GOVERNMENT IN POWER AT THE TIME AND MIA WHO WAS A GOVERNMENT MINISTER AT THE TIME WAS ALSO ONE OF THE ATTORNEYS ASSOCIATED WITH THE GROUP (PEMBERTON ET AL). They were the government in power at the time when it collapsed. The DLP endeavoured to rescue the entire fiasco.
David, I do not, and have never, had ANY connection or association with Claire Cowan. All my contributions on that episode were in defence of the need for a Plasma Gasification Plant (A Barbadian concept by the way) to assist in the destruction of Garbage destined for the Landfill. We have no more land available for landfills, and the garbage keeps building up. The truth and the facts have to be faced and preparations have to be made long in advance.Recycling is great and should be established firmly, but provisions have to be made for un-recyclable products (large truck and tractor tyres for instance.).
Claire did the same thing that Pemberton, Ames, etc. did. They pre-sold the project; just like Donald Trump and other investors do all over the world. Right here in Toronto large Condominium and building developments are pressed long before a single hole is dug on the Properties.
Bushie,
We may have misguided Cawmerians, but after passing through that “University”, no-one emerges as an “idiot”. If you designate me as an idiot, I am therefore unique.I never designate you as an idiot. I may disagree with you but an idiot/// No, you are a former Cawmerian. Up and on.
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Alvin..why don’t you read and absorb correctly, no one said anything about land rotting, as it stands and degrades in it’s present state of disrepair, the whole 16 acres is an ugly eyesore and a liability.
How much money do you think it will cost the taxpayers for government to demolish 16 acres of rusted structure, do you think an intelligent buyer will be interested in purchasing that dump in it’s present state.
….the government had no choice but to assume the liability after Thompson stuck his cirrupt nise in the private sector business and gave away the pension money, they took on responsibilty by giving away pensioners money. ..
…..it was none of their damn business to begin with, and they should not have involved the people’s money.
No amount of lies you tell on here can change that….Alvin.
The world is filled with idiots.
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@ Alvin
Bushie is just at a loss to understand any rational basis upon which you consistently take clearly erroneous positions, …and then defend them in the face of overwhelming evidence that you are completely wrong ….. except for the explanation of ‘idiocy’.
It all became clear with Clare Cowan and CAHILL…..
Until then Bushie blamed your recent illness and possible resulting loss of faculties, but shiite man Alvin!!!, …it is clear that you have either refined nonsense to a new art … or have become an unwitting victim of idiocy…
BTW, if you REALLY think that attending Cawmere insulates someone from being an idiot, then you are AGAIN confirming Bushie’s analysis….
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Bush Tea October 21, 2016 at 10:12 AM #
Bushie,
We may have misguided Cawmerians, but after passing through that “University”, no-one emerges as an “idiot”. If you designate me as an idiot, I am therefore unique.I never designate you as an idiot. I may disagree with you but an idiot/// No, you are a former Cawmerian. Up and on.
……………………………………………………………………………………………………..
Chuckle…….I must agree with Alvin…..we all have our own agendas….up and on.
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….the government had no choice but to assume the liability after Thompson stuck his corrupt nose in the private sector business and gave away the pension money, they took on responsibilty by giving away pensioners money. ..
Lookee Alvin.
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Alvin Cummins October 21, 2016 at 9:03 AM #
“Claire did the same thing that Pemberton, Ames, etc. did. They pre-sold the project; just like Donald Trump and other investors do all over the world. Right here in Toronto large Condominium and building developments are pressed long before a single hole is dug on the Properties.”
Pemberton pre-sold (unbuilt) units in the Paradise Beach hotel/condo project to unsuspecting buyers/investors who did insufficient due diligence into who they were paying their money. and now will never see their money again.
Ames/Harlequin pre-sold (unbuilt) units in the Merricks project to unsuspecting buyers/investors who did insufficient due diligence into who they were paying their money, and now will never see their money again.
Clare Cowan/Cahill did the same thing, pre-sold the gasification plant to unsuspecting buyers/investors (the Four Ministers) who did insufficient due diligence into who they were paying taxpayers money, and now the taxpayers will never see their money again; but the Four Ministers got to keep the money they received from Clare to sign the contract.
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Well Well,
If the bank seizes your property due to non payment of mortgage they have seized your collateral. If they then weather sell it (at a profit) or develop it to be worth more than the original investment , they have not lost the money they seized it for. Land appreciates in value, and a seaside property such as exists at the Four Seasons’ site will be worth appreciably more than when it was first taken over in 2008. So no money has been lost.So your statement:…by giving away pensioners money”. has no validity..The land is still there and even though, it maybe an eyesore, it still has improved value. Right now it is worth more than government hasp into it. If a property such as envisioned in the hotel is constructed on it it will be worth more. When the former Hilton was imploded, the area would have been worth only the value of the land. When the New Hilton was built it would then have been worth much more.
Bushie, I am sure you would have been taught by such stalwarts as Gladstone Holder. You would thus have been taught about the meaning of logic, differences of opinion, and argument. Thus, as a Cawmerian you would have been taught to understand that even though we may disagree from different perspectives, depending on our own view of a situation, objectivity would enable us to disagree, based on our individual perspectives. I would never call you an idiot, even though I may disagree with you; just someone with a different opinion.As you see I do not take umbrage at a fellow Cawmerian calling me an idiot. After all; “birds of a feather….
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Alvin…the question is when will the pensioners see back their 60 US million dollars, a simple question. Will it be in this lifetime.
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Well Well,
Like all pensioners;Eventually.
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http://www.nationnews.com/nationnews/news/88116/bidding-black-bess-development
This seems to be a trend on the island.
Alvin…I expected such a retarded answer from you, it’s in keeping with your profile as a useless political yardfowl.
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Well Well ;
Your response is also as expected. The article you refer me to is not a “trend” on the island, and it is not new or now.
Note especially; “The project was officially launched in 2007 by then Minister of Tourism Noel Lynch but eventually ran into financial difficulty” The launch date is 2007, meaning discussions etc would have taken place between 2005 and 2006, or even before. When was the Four Seasons Project first conceptualized? Doesn’t that give the impression that many of these projects; designed to sell the country to the highest bidder; fulfilling the BLP mantra that land should be able to be sold for its highest value to the highest bidder? Then when these things fail apart, the DLP is left holding the bag, and being blamed for all the resulting imbroglio.
That’s why you will never understand me. I will never let you escape your party’s responsibility in these issues.
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Alvin…you still refuse to get it, all the reasons you outlined are the reasons why corrupt David Thompson and the government ministers had no right pushing their nose in and committing taxpayer’s money to the fraud that was 4 seasons, particularly since all the government ministers were well aware that Mia, opposition leader was the attorney for the 4 sessons crooks.
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Alvin – You said at October 21, 2016 at 5:28 PM
“Land appreciates in value, and a seaside property such as exists at the Four Seasons’ site will be worth appreciably more than when it was first taken over in 2008. So no money has been lost. So your statement:…by giving away pensioners money”. has no validity..The land is still there and even though, it maybe an eyesore, it still has improved value. Right now it is worth more than government hasp into it”
Under normal circumstances a seaside property such as the Paradise Beach property (formerly the site of the Cunard Paradise Resort) on which developers/promoters Pemberton and Paterson et al proposed to build 36 luxury villas/apartments and a 100+ room hotel to be managed by Four Seasons would have appreciated in value since the GOB put money (US$60m) into it.
BUT, this is not normal circumstances.
Yes the land is still there; but the “improvements” (the now crumbling partly completed villas) are as you say an eyesore and in fact are a detriment to the value of the 30 acre seaside property. Indeed the US$60m (plus???) that GOB has into it is in fact lost.
Likewise the money that Simon Cowell, Andrew Lloyd-Webber, Eddie Jordan, Lucien Grainge, and other luminaries “invested” in Pemberton’s Valhalla is lost.
Without the benefit of access to Land Titles records, it is reasonable conclude the property (land) is subject to liens far exceeding the value of the seaside property..
See this 2010 article Alvin – You said at October 21, 2016 at 5:28 PM
“Land appreciates in value, and a seaside property such as exists at the Four Seasons’ site will be worth appreciably more than when it was first taken over in 2008. So no money has been lost. So your statement:…by giving away pensioners money”. has no validity..The land is still there and even though, it maybe an eyesore, it still has improved value. Right now it is worth more than government hasp into it”
Under normal circumstances a seaside property such as the Paradise Beach property (formerly the site of the Cunard Paradise Resort) on which developers/promoters Pemberton and Paterson et al proposed to build 36 luxury villas/apartments and a 100+ room hotel to be managed by Four Seasons would have appreciated in value since the GOB money (US$60m) into.
But this is not normal circumstances.
Yes the land is still there; but the “improvements” (the now crumbling partly completed villas) are as you say an eyesore and in fact are a detriment to the value of the 30 acre seaside property. Indeed the US$60m (plus???) that GOB has into it is in fact lost.
Likewise the money that Simon Cowell, Andrew Lloyd-Webber, Eddie Jordan, Lucien Grainge, and other luminaries “invested” in Pemberton’s Valhalla is lost.
Without the benefit of access to Land Titles records, it is reasonable conclude the property (land) is subject to liens far exceeding the value of the seaside property..
Alvin – You said at October 21, 2016 at 5:28 PM
“Land appreciates in value, and a seaside property such as exists at the Four Seasons’ site will be worth appreciably more than when it was first taken over in 2008. So no money has been lost. So your statement:…by giving away pensioners money”. has no validity..The land is still there and even though, it maybe an eyesore, it still has improved value. Right now it is worth more than government hasp into it”
Under normal circumstances a seaside property such as the Paradise Beach property (formerly the site of the Cunard Paradise Resort) on which developers/promoters Pemberton and Paterson et al proposed to build 36 luxury villas/apartments and a 100+ room hotel to be managed by Four Seasons would have appreciated in value since the GOB money (US$60m) into.
But this is not normal circumstances.
Yes the land is still there; but the “improvements” (the now crumbling partly completed villas) are as you say an eyesore and in fact are a detriment to the value of the 30 acre seaside property. Indeed the US$60m (plus???) that GOB has into it is in fact lost.
Likewise the money that Simon Cowell, Andrew Lloyd-Webber, Eddie Jordan, Lucien Grainge, and other luminaries “invested” in Pemberton’s Valhalla is lost.
Without the benefit of access to Land Titles records, it is reasonable conclude the property (land) is subject to liens far exceeding the value of the seaside property..
See this 2010 story: http://www.stabroeknews.com/2010/news/regional/11/17/creditors-in-barbados-four-seasons-project-to-get/
And this 2016 story: http://www.barbadostoday.bb/2016/08/17/sinckler-announces-four-seasons-deal/
No investor, foreign or local, would touch that property with a ten foot pole.
The only winner in this whole fiasco, assuming he did not take a mortgage for part of the sale price, is Gordon “Butch” Stewart, who sold the property to Pemberton et al back in 2004/2005 for US$30 million.
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OOPS – Sorry about the duplication
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PS
Back in 2005 when Butch sold the property to Pemberton/Paterson et al and in 2007 when they were selling the villas to the rich and famous, Barbados’ sovereign risk rating was investment grade. In
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OOPS again
PS
Back in 2005 when Butch sold the property to Pemberton/Paterson et al and in 2007 when they were selling the villas to the rich and famous, Barbados’ sovereign risk rating was investment grade. In 2016 – not so much.
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Details of Harlequin’s debtors and creditors:
Click to access notice-of-intention-oct032016.pdf
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There is a prominent ad by TerraCaribbean in the Globe and Mail Report on Business today featuring this property:
http://www.terracaribbean.com/Barbados/Residential-Sale/Land/Bacassa+-+St.+Peter
“There is no guide price as the property is being sold via a bid process. All interested parties are invited to submit their bid on or before December 12, 2016”
I guess the success/failure will test the effect of Barbados’ non-investment grade status on foreign investors unease to invest in Barbados as discussed by Roger Cave in the following recent article.
http://www.barbadostoday.bb/2016/11/04/investors-uneasy-about-barbados-growing-debt/
Will be interesting to learn if any foreign investors make a bid for the property.
Or if it goes bust like so many other tourism “projects”
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Latest news out of St Vincent is that the resort is now closed. Electricity was cut off due to non payment of bills. Also, it was reported that employees were striking, having not been paid for months. Several guests at the resort were left stranded, having to pay their own way to travel or stay at other hotels. I guess this means the end for Harlequin Hotel Barbados, and Merricks, which is now a looted place , and overgrown with weeds.
Court documents in St Vincent show the BRA as being owed a large sum of money for property taxes on Merricks.
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Yet..Buccament Bay website makes no mention of this closure, and are still taking bookings and inviting payments for Buccament Bay Resort, from April 2017.
The saga continues!!!
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What is the latest about Harlequin? Has Dave Ames been asked to explain his latest business story? What is the situation with Ames and the UK’s Serious Fraud Office? Have the authorities in Barbados launched an inquiry in to the Harlequin affair? Does any of this appeal to the Bajan public or media?
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It has been a grind but we are here now.
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David
Remember it was Harlequin behind the Merricks Residence as well. People had made deposits for those and in recent times in the last few years there was some type of town hall regarding that development. I went to a home show in Dublin in 2004 where villas were being sold off plan for Merricks. They were selling it as a beachside gated community and I asked the guy where the beach in that area was because I only knew it to be cliff side. He was rather surprised that he would run into someone who could tell him there was no beach in that area. I was then told they would create a beach.. that I found to be very funny.
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