est. 2007

Barbados Underground

Bringing News and Opinions to the People

The GROTTO: Solicitor General ‘Opinion’ Deems Dividend Payment from Housing Credit Fund Illegal

The truth about the GROTTO Housing project and the decision to declare a dividend from the Housing Credit Fund (HCF) by the Central Bank of Barbados (Government) to pay Mark Maloney of PRECONCO is finally coming to light. The BU household has relentlessly pursued this matter and it gives us no satisfaction to be proved…

, , , ,
The GROTTO high rise project
The controversial GROTTO high rise project

The truth about the GROTTO Housing project and the decision to declare a dividend from the Housing Credit Fund (HCF) by the Central Bank of Barbados (Government) to pay Mark Maloney of PRECONCO is finally coming to light. The BU household has relentlessly pursued this matter and it gives us no satisfaction to be proved right. Should it make sense why the Minister of Finance plans to terminate and transfer the HCF to the Consolidated Fund?

What the revelation has confirmed is that we have a government willing to flout the financial rules to appease their friends and to fill their pockets. We have a government committed to continue the practice of its predecessor to ignore the observations of the Auditor General. Lastly what it confirms is that members of the political class are loyal to the clan.

Thank you from BU to the BU family member who shared the document.

See the opinion letter issued by the Solicitor General’s Office.

Page 1
Page 2
Page 3
Page 4

140 responses to “The GROTTO: Solicitor General ‘Opinion’ Deems Dividend Payment from Housing Credit Fund Illegal”

  1. seeuintown1965 Avatar
    seeuintown1965

    FROM THE TIME DEM GET INTO POWER, THEY HANDS WERE ALWAYS UNDER THE COUNTER UNTO THIS DAY, NO WONDER THAT COCONUT HEAD MAN FOR AH LAWYER ADVICE THEM NOT TO SHOW UP FOR AH HEARING. THIS IS THE SHIT THAT GOING ON IN BIM, NO WONDER WE CAN’T GET OUT OF THE RECESSION. ITS HIGH TIME THESE MORONS WANT PUTTING AWAY FOR AH LONG TIME…NO WONDER THAT WHITE MOUT SLUT MALONY SAY HE COULD MAKE BARBADIANS SUFFER.

  2. seeuintown1965 Avatar
    seeuintown1965

    I SEE EVERY SINCE WHEN THESE MASSIVE CONTRACTS ARE GIVEN OUT, THOSE 5 WHITE FACES SHOWS UP ALL THE TIME, CAUSE THE NEW WHITE NIGGERS IN PARLIAMENT IS GIVING AWAY OUR HARD TAX DOLLARS TO THESE PEOPLE, WHILE THE MASSES ARE SUFFERING. DEM GET THEY KICK BACKS ALL IS WELL

  3. Caswell Franklyn Avatar
    Caswell Franklyn

    This is more than enough reason for the resignation or removal of the minister or better yet the removal of this Government. Where is the DPP in all of this? Who enforces the law when politicians blatantly flout the law.

  4. Well Well & Consequences Avatar
    Well Well & Consequences

    From the time any government is elected, they see the taxpayers as their enemies and believe they can do whatever they like….to the people who elected them, the present ministers should not be allowed in parliament ever again, too weakminded, brainless and useless to their own people,

  5. Well Well & Consequences Avatar
    Well Well & Consequences

    Caswell. ……I feel you, but just as the court system, the judiciary is nonfunctioning, so too is DPP Charles Leacock, they all collect taxpayer’s money because it’s there, it’s free and they have to do no work, particular holding each other accountable.

  6. seeuintown1965 Avatar
    seeuintown1965

    THE DPP IS THE SAME SHIT AS DEM, ALL THEM COVER FOR ONE ANOTHER….JUST TAKE AH LOOK WHEN THEY ARE THE BIG PARTIES, SINKLIAR, DELIAR, PEACOCK, PARRIS, FUNDAL & COMPANY……….WE THE MASSES CAN MAKE THE CHANGE IF ONLY WE WOULD GET UP OFF OUR DOCILE ASSES & END IT ALL, BUT ALOT OF ARE SLEEPING TOO

  7. Mountain Man Avatar
    Mountain Man

    I have a few simple questions. Why is Mark Maloney writing directly to the Minister of Finance and why is he suggesting/confirming that RBC is going to call on the Government Guarantee?

    To me it seems like the letter from Mark Maloney was written to purely to engage the MOF’s attention and action, an action that was already planned and coordinated with Bjerkhamn…………………..who coincidentally sits on the board of directors of the Central Bank.

  8. David Avatar
    David

    Not so fast Caswell. We have to explore if there was another legal opinion sought. Surely the MoF hinged his overrule of the Solicitor General’s opinion on something material?

  9. Mountain Man Avatar
    Mountain Man

    David

    Why do I feel we are soon to see a ‘piece a’ legal opinion from Yearwood the lawyer?

  10. David Avatar
    David

    @Mountain Man

    Interesting observation which can be stretched.

    Didn’t the same Maloney recently announced in the media he was currently negotiating with the ministry of transport to integrate cement in its road construction program? Why should he be the one broaching this matter in the public place? Also it is no secret his father was a senior man now retired from the bank but likely still functioning in a board capacity. Barbados needs a purge.

  11. Caswell Franklyn Avatar
    Caswell Franklyn

    The Government of Barbados is guided by the opinions of the Solicitor General until such time as a court says otherwise. That is how business is done in this country. I have not seen or heard of any court decision to the contrary.

    Sent from my iPad

  12. David Avatar
    David

    @Mountain Man

    Yes we have 3 lawyers at least who have attained millionaire status as a result of the largess from the government and Michael is one.

  13. David Avatar
    David

    No Caswell, there must be a solid legal reason the Central Bank paid the dividend from HCF. Bear in mind there must be a governance framework the central bank of Barbados should adhere. Yes we are aware there is the unexplained Leroy Parris deposit said to be held at the said institution.

  14. Caswell Franklyn Avatar
    Caswell Franklyn

    David

    There is a solid reason why the the Central Bank paid over the money, without lawful authority to do so. It is simple, Barbados has now graduated to be a full fledged banana republic and nothing gets in the way of the ruling Mafia when it wants money.

  15. Own Area Avatar
    Own Area

    Caswell, let’s focus on the issue, the cause and the manageable consequences. Bjorn Bjerkhamn must be forced to resign from the Board of the Central Bank of Barbados. He has no right be there in the first place but clearly he has benefitted therefrom.

  16. David Avatar
    David

    This is not an all fours comparison but didn’t the Governor of the Central Bank commission his own survey to measure the unemployment number although the Barbados Statistical Service is the lawful body to determine the number? The point being the Governor has set a precedent he is not afraid to go maverick.

  17. Violet C Beckles CUP Avatar
    Violet C Beckles CUP

    We, I , Keep telling all of you that they are Crooks , Liars and Scumbags, , But has have it , Most want part by part, each by each, plot by plot, plan by plan ,But never a name called, Oh Ghost is how the crimes are done,
    Full-headed kiss ass Niggers in the Middle, Lawyers and Ministers , family friends looking out for each other and the Media of Barbados all of them are to blame , Police, DPP, AG ,Slavery Judges hiding behind fraud rulings , To fool the people thinking that their Judgements are wrong bout the Sirs , QCs of Barbados,
    Where ever there is big money changing hands you will see the same crooks all the time,
    We wish that Barbados Free Press was still online to get the white side of things in Bim ,

    More Will come out by Elections and All will be expose while they are looking for Votes,

  18. de pedantic Dribbler Avatar
    de pedantic Dribbler

    @David January 22, 2017 at 11:06 AM …That is hilarious.

    Has anyone, maybe the recently retired Dep Governor, given an explanation re “the unexplained Leroy Parris deposit said to be held at the said institution.”

    I actually sent an email to their customer service asking for guidance on that. Still waiting.

    Or maybe someone like Jeff, heavens forbid not him directly, can unravel your conundrum.

    On the one hand the CB must have ” a solid legal reason” to pay a “dividend from HCF” deemed illegal by the government’s lawyer.

    And at the same time we can’t hear any such legal basis for holding non-bank deposits at our central bank.

    Maybe they are both premised on the same law that’s forever non-appealable : eff you!

  19. David Avatar
    David

    @Dee Word

    Perhaps this is why the Governor made a decision to hide from the press. To avoid answering that question along with the others about the comatose economy.

  20. Vincent Haynes Avatar
    Vincent Haynes

    As discussed on another post our PM is more powerfull than the president of the USA,to which Bushie assisted by giving the reasons.

    The political class is well entrenched and immovable……QED

  21. Colonel Buggy Avatar
    Colonel Buggy

    One shudders to think what the Central Bank and the Minister of Finance may be doing with the funds collected from Bajans , from the sales of Government Saving Bonds?

  22. Caswell Franklyn Avatar
    Caswell Franklyn

    These are early days yet but the Opposition should have no other option than to file a motion of no confidence against the Minister of Finance over these revelations. I know that they can’t make, a newspaper article or a blog on BU, a document of the House and I am not prepared to accept that as an excuse for not filing. I am willing to give the Opposition my copy that fell off a truck.

    Sent from my iPad

  23. David Avatar
    David

    “Caswell

    Minister Kellman when asked about the government ignoring the opinion delivered by the Solicitor General’s office his response was that it is an opinion. This should provide some insight as to the thinking that went into the decision.

  24. Caswell Franklyn Avatar
    Caswell Franklyn

    David

    I do not rely on Minister Kellman for anything authoritative and only quote him for amusement. He has shown repeatedly that his little pea brain does not understand much.

    Sent from my iPad

  25. Well Well & Consequences Avatar
    Well Well & Consequences

    Because unlike the dumb backward asses for ministers, Maloney was reading BU when I posted the suggestion, did he research and realized that concrete is used in the mix to pave road in the large countries, he can now claim it as his idea, act like he is doing bajans a favor and have the taxpayers in Barbados pay him to do it, when this should have been part of the road works program from 20 years ago.

    “Didn’t the same Maloney recently announced in the media he was currently negotiating with the ministry of transport to integrate cement in its road construction program? Why should he be the one broaching this matter in the public place? Also it is no secret his father was a senior man now retired from the bank but likely still functioning in a board capacity. Barbados needs a purge.”

    The crook Bjerkham should not be in the central bank in any capacity, he is part owner with Cow, Bizzy and Maloney of Preconco….too much conflict as it relates to foreign exchange and taxpayer’s money.

  26. enuff Avatar
    enuff

    No different to the appointment of Arni Walters to the non-existent post of Executive Director at BWA and many other unlawful actions early in the 2008 term, which many on BU supported or raised no opposition.

  27. Hal Austin Avatar
    Hal Austin

    Maybe someone can explain: isn’t the solicitor general junior to the attorney general with the AG sitting in the Cabinet as home affairs minister, apart from being the executive’s senior legal adviser?

  28. Own Area Avatar
    Own Area

    Caswell

    Pea brain or pee brain?

  29. Caswell Franklyn Avatar
    Caswell Franklyn

    Hal Austin

    I understand your confusion. In Barbados the Solicitor General’s Chambers is part of the Office of the Attorney General. The Solicitor General advises the AG, who in turn advises the Cabinet. As a matter of fact, there is no requirement in law that the AG should be a lawyer. All that is required is that the person is a member of the House of Assembly or the Senate.

    Oh by the way, there are no executive ministers in Barbados even though, over the years, many have behave as though they were.

    Sent from my iPad

  30. Hants Avatar
    Hants

    I have a feeling that the DLP does not want to win the next election.

    The BLP will have to deal with the coming devaluation and “recession”.

  31. David Avatar
    David

    @Caswell

    Your repply to Hal brings us full circle. The AG’s opinion in this matter IF he proffered one will trump the SG. Given that he is the chief legal officer of the executive this is obviously how the boys will roll.

  32. millertheanunnaki Avatar
    millertheanunnaki

    @ Caswell FranklynJanuary 22, 2017 at 1:12 PM

    Lol!! That’s a tad harsh but amazingly rather true.

    Are you ‘clearly’ suggesting that Kellie and our own BU acs (both of the accredited cretins) are like peas from the same intellectual pod of abject stupidity?

    The man is such a professional fool he keeps blaming the switch from the cash basis to the accrual basis of accounting for the continuing skyrocketing of the country’s fiscal debt.

    Why can’t the man from loony town just advise his colleague to revert to the cash basis and, by Jove, the bleeding deficit would stop and bring the financial hemorrhaging to an end.

  33. Hamilton A. Hill Avatar
    Hamilton A. Hill

    As they sit and keep watch from their Ivory Towers, they say nothing or at times precious little as such indifference unfolds, and then in the most contemptuous of tones they seek to castigate opinions formed and published on social media. Men like Glyne, Carl, David, Harold and the others with unfettered access to the traditional media need to be reminded that evil flourishes when good men sit back and say nothing. Perhaps they are all members of the political class, hence their disqualification from the title “Good Men”. Barbadians need look no further than an inattentive fourth estate, beholden to a political class driven to take this country over the edge all for their selfish unpatriotic gain, to find an answer to Sir Lloyd’s question as to “How did we get back here”?

  34. millertheanunnaki Avatar
    millertheanunnaki

    @ HantsJanuary 22, 2017 at 1:48 PM

    You not only smell a rat jumping from a sinking economic ship but also the entire dead crew of the DLP Titanic.

    Mia must have a fatalistic thirst for power to want to be ‘saddled’ with such a Sisyphean task of rescuing Bim from economic and social wreckage the oncoming devaluation torpedo would inflict.

    Every man-jack is now trying to jump on board the Privatization lifeboat which OSA floated in 2012 but sabotaged by the same turncoats.

    SOS!
    IMF, there floats the wreck called SS Bimshire with only flotsam and jetsam of wretched souls on board to your salvage port of final call.

  35. David Avatar
    David

    @Miller

    Didn’t Sir Frank Alleyne observe at the recent DLP luncheon that the government’s MTFS is working? What gives!

  36. Gear4 Avatar
    Gear4

    David

    Isn’t Sir Frank known to have struggled with periods of GEARBOX behaviour and to have even riddled a garbage can outside his house with bullets in the belief that Tom Adams was hiding inside?

  37. Gear4 Avatar
    Gear4

    The Guvnor is going to come and fudge the number this week and which will be followed by Stinkliar and his Ministry’s assessment of the economy. FAKE NEWS.

  38. millertheanunnaki Avatar
    millertheanunnaki

    @ DavidJanuary 22, 2017 at 2:18 PM

    This the same man who, frankly speaking, was totally against Privatization when OSA put his neck on the electoral guillotine block and lost it to a bloody nincompoop call Fumble.

    Don’t be surprised if in the coming weeks in true weathercock fashion the same twist-mouth ‘expert’ jumps on the Devaluation bandwagon when it becomes an inevitable fait and a sine qua non for fiscal adjustment assistance aka IMF special measures.

  39. Hal Austin Avatar
    Hal Austin

    Caswell,

    I am indeed confused. So you are in effect saying that the so-called Westminster/Whitehall model is a myth. Under UK law, the solicitor-general is junior to the AG and reports to the AG. Both must be a lawyers, although the Lord Chancellor/Secretary of State for Justice, the head of the judiciary, needn’t be. ie Michael Gove and the current secretary Lynne Truss. Lawyers are not very happy about this.
    In the UK, the AG is occasionally called upon to present important cases in the High Court or the Supreme Court. Both the AG and SG are political positions.

  40. millertheanunnaki Avatar
    millertheanunnaki

    @ Gear4January 22, 2017 at 2:29 PM

    You are a ‘real’ soothsayer. You know the score already.

    Don’t be surprised if some of the $300 million in foreign reserves missing since 2013 is suddenly ‘brought to account’ like the debt the BLP administration left floating in the Pacioli corridor of mystery.

    The ‘revaluation’ of the economy would show the economy is much bigger than was previously ‘estimated’. Hence an increase in the growth rate would be calculated.

    But what the statistical gerrymanders don’t realize is that the acid test of any growth in an economy with buying and selling imported goods forming its major transactional base must be the tax collection performance; namely VAT, customs and excise duties.

  41. Gear4 Avatar
    Gear4

    Stinkliar is ambidextrous are telling lies, spreading misinformation and confusing people.

  42. Caswell Franklyn Avatar
    Caswell Franklyn

    Hal

    You call it myth; I call it parody.

    Sent from my iPad

  43. Violet C Beckles CUP Avatar
    Violet C Beckles CUP

    These people only see fraud coming after its all done and paid for,

  44. Prodigal Son Avatar
    Prodigal Son

    If this is not cause for this ignoramus we have for MOF to resign then I dont know whatever would!

    We always knew that there had to be a reason why Bejerkham was made a director of our Central Bank.

    Man, these morons have corrupted every institution of government. I cannot believe how these black asses allowed themselves to be bought and sold by five white men! Idiots……….. and to think they had the nerve to celebrate Errol Barrow yesterday!

  45. nineofnine Avatar
    nineofnine

    FOR A CLEAR UNDERSTANDING OF WHAT YOU MEAN BY POLITICAL CLASS.
    If you mean parliamentarians, then in this case , to move them into action can take any variable. For instance, what comes to mind is any gross violation of the law by lawmakers. Law is applied to a Nation, it does not exempt, therefore any violations of the law must be applied to that which has been knowingly premeditative in nature, unlawfully perpetrated/committed and concealed by way of “lawful enactments”. In essence it is a fraud and perjury of gigantic proportions.
    Any Forensic evidence, LEGAL DOCUMENTS, pronouncements, facts, and witnesses (as laden vessels in dry dock) presented in a MARITIME COURT OF LAW will override the law of the land finding justice.

  46. Vincent Haynes Avatar
    Vincent Haynes

    nineofnine January 22, 2017 at 4:36 PM #

    I explained Bims political class to you already.

    You still dont get the fact that Caribbean politicians are a law unto themselves……you can quote all the laws of various countries,even our own,they simply do not apply.

  47. millertheanunnaki Avatar
    millertheanunnaki

    @ Prodigal SonJanuary 22, 2017 at 4:18 PM
    “If this is not cause for this ignoramus we have for MOF to resign then I dont know whatever would…”

    And this is former fat but lazy boy the stinking liar who is now jumping on the diversionary bandwagon of Productivity instead of Privatization.

    If he is all for productivity then let him call on his boss to make a decision regarding the Hyatt Erection.

    The ball is in his court why can’t he play and expose the scam to bilk taxpayers out of consultancy and finder’s fees?

    While the liar is at it skyving on the job and ‘bad-mouthing’ his stupid boss let him multitask and produce the results from his sworn commitment to restructure the SOE’s he ‘diligently’ promised to do in 18 months since December 2013. But what can one expect from a lying rat who can’t tell the difference between 0.03 and 0.007?

    If he is unable to meet that long overdue target then at least he should try to feed Bajans with more bullshit regarding Four Seasons fiasco which he promised in August 2016 to pronounce on comprehensively very “shortly”.

    It’s time these deadbeat politicians stop blaming the workers for low productivity outcomes. Productivity is a function and responsibility of management. Let the leaders set the examples and the rest will follow.

  48. Wily Coyote Avatar
    Wily Coyote

    @ALL

    I think I just finished reading the SUNDAY COMICS, the merry go round continues. Blog BAJANS WAKE UP and see the country of Barbados has been in ANARCHY for the last several years. Barbados MOTTO is ” A RULE FOR EVERYTHING and ENFORCEMENT OF NOTHING”. Barbados as a democratic country has FAILED, Barbados economically has FAILED, the question is….. can the country ever regain it’s once respected stature. I for one believe it has passed the tipping point and recovery is NOT POSSIBLE. I could be proven WRONG, however the Barbados populace will undergo severe economic and social limitations for the next several generations with any attempt to restore REAL democracy.

  49. Gabriel Avatar
    Gabriel

    Miller
    Don’t forget VAT was increased in 2010 from 15 to 17.5 % for a period of 18 months.6 years gone and the temporary 2.5 % that should have come off in May 2012 still choke holding every Bajan household.Liar Sinckler just cannot speak the truth.

  50. nineofnine Avatar
    nineofnine

    @ millertheanunnaki January 22, 2017 at 5:55 PM #

    ….”If he is all for productivity then let him call on his boss to make a decision regarding the Hyatt Erection”…..

    Will Hyatt sit on lands formally known as BAY PLANTATION?

    Is there a pending judicial case on the subject matter? (subject to correction)

1 2 3
Newer Comments

The blogmaster invites you to join the discussion.

Trending

Discover more from Barbados Underground

Subscribe now to keep reading and get access to the full archive.

Continue reading