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NIS Owed 13 million by ‘Paradise’ NOT 60 Million

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The derelict Paradise property
The following exchanges took place between Chairman of the NIS Dr. Justin Robinson and BU Blogmaster on Facebook Group FB Senate, a group administered by Senator John Watson. What was debunked by Chairman Robinson is that the NIS approved a USD60 million dollar facility that was utilized for the Paradise (Four Seasons project). The Chairman further confirmed that the NIS is exposed to the Paradise (Four Seasons project) the amount of 13 million dollars owed by government. The expectation is that the NIS will be paid from the proceeds of the sale of Paradise to JADA for USD60 million dollars

– BU blogmaster

 

David King is with Justin Robinson.

2 hrs

Chairman Justin Robinson for the sake of transparency where does the NIS sit in this latest revelation? “Barbadians need answers on this Four Season sale.

How was the sale brokered? Was it done through the former executive chairmen of Paradise Limited Professor Avinash Persaud who was head hunted specifically for the task by the late Prime Minister David Thompson? Was the sale brokered after Professor Persaud left the Paradise organisation? Was the sale brokered before or after the IADB withdrew their funding for the restart of the Four Seasons project? Was the sale of the property advertised publicly, far and wide, locally and internationally as is the case with the Harlequin property at Merricks? Were bids for the property invited by open tender or was it put only to a select group of potential investors/buyers? Are there any finders’ fees involved for the party/parties who brokered the deal with Jada?

These are questions that Barbadians need to have answered. Clearwater Bay is a government owned and taxpayer funded company which is party to the sale. Recall that a US$60 million guarantee was provided by Clearwater Bay through resolution of Parliament which was eventually called by Ansa Merchant Bank.

What is the final cost to taxpayers for this? The net proceeds of the sale will be less than the US$60 million due to attorneys’ fees, duties etc.

Is the Barbadian taxpayer burdened with a loss as a result of government having getting involved in a private sector project????”

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David King

David King I should caution that any clarification statement offered may or may not be reported to BU.

Manage

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· Reply · 2h

Justin Robinson

Justin Robinson NIS is in no way involved. the NIS is owed approxiMately 13ml by the project and expects to be paid from.any cash flows to the government.

1

Manage

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· Reply · 2h

Philip F. Corbin

Philip F. Corbin Didn’t Govt use NIS funds in the amount of US$60M to pay the Ansa Loan which was guaranteed by the govt and on which Clearwater defaulted ?

Manage

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· Reply · 2h

Justin Robinson

Justin Robinson the NIS has made a 60 million facility available on certain conditions. The conditions were never met so the funds were withdrawn.

Manage

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· Reply · 2h

Justin Robinson

Justin Robinson the NIS is on the hook for 13ml. One of the more controversial decisions in my time. I am still.of the view that if all that could be done had been done to get that project restarted at the time we could have avoided years of economic decline.

Manage

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· Reply · 2h

Philip F. Corbin

Philip F. Corbin ‘NIS on the hook for $13M’ …..is that the balance of a loan given to Govt or Is it a shortfall in NIS contributions ? US$60M flowed into Govt in 2016 so why has NIS not been paid up to the year 2018 ?

Manage

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· Reply · 2h

Justin Robinson

Justin Robinson I don’t know if 60ml was paid or has been paid and property handed over. an agreement was concluded. the 13ml is an investment in the project.

Manage

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· Reply · 2h

Philip F. Corbin

Philip F. Corbin Thank you

Manage

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· Reply · 1h

Justin Robinson

Justin Robinson thats not really clear from the story in the paper today

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· Reply · 1h

David King

Reply to this…

David King

David King Dr. Robinson to be clear, you are saying that NIS is only exposed for 13 million that was invested in the project. And that the 60 million facility was never drawn down. Are you also saying that with the sale no arrangement to formally address the NIS was made a condition of the sale?

Manage

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· Reply · 1h · Edited

Justin Robinson

Justin Robinson 13ml. the 60ml facility was never drawn down. NIS was not a party to the sale or negotiations. the 13ml is due from the government.

Manage

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· Reply · 1h

David King

David King The 13 million was advanced to government in what form?

Manage

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· Reply · 12m · Edited

David King

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178 responses to “NIS Owed 13 million by ‘Paradise’ NOT 60 Million”

  1. Caswell Franklyn Avatar
    Caswell Franklyn

    All along this property was sold and Government was still telling the country that they were looking for an investor. If this is not corruption nothing is.

  2. Wily Coyote Avatar
    Wily Coyote

    The hocus pocus continues, Wily however smells a rat or is it a skunk or most likely more coverups. Will Barbadians ever see the cost of the facilitation fees and whom received such fees and the main benefactors, as they say follow the $.

  3. Wily Coyote Avatar
    Wily Coyote

    @Caswell

    I’m not sure the property was ever sold, what were seeing now is some recently generated paper work that appears more CYA(Cover Your Ass) than legitament documentation.

  4. tudor Avatar
    tudor

    The conveyance is dated 2015, we are now hearing in 2018 that the property is sold why now and not before………

  5. Gabriel Avatar
    Gabriel

    Today’s Sunday Sun at page 4A is reporting that ‘when approached in Parliament on Friday last, Sinckler told the reporter Maria Bradshaw..”You cannot have any documents showing any conveyance” But a senior official associated with Jada confirmed they were now in possession of the property and in the process of seeking investors to get it restarted’.Another untruth from Sinckler…nothing but lies,lies and more lies.

  6. Well Well & Cut N' Paste At Your Service Avatar
    Well Well & Cut N’ Paste At Your Service

    As far as I remember, a 60 million US loan was secured using NIS funds as security for the same scam artists to pay vendors when they went broke with their 4 seasons scam, a loan they should never had gotten….the vendors were paid…no matter how much of the money was used…the loan was secured. …

    Soooo….how is it the Auditor General’s report said there was no evidence of any repayments to NIS….period.

  7. Well Well & Cut N' Paste At Your Service Avatar
    Well Well & Cut N’ Paste At Your Service

    “Justin Robinson
    the NIS has made a 60 million facility available on certain conditions. The conditions were never met so the funds were withdrawn.”

    when a US 60 million dollar facility is made through a bank…accrual of interest included. ..there has to be paperwork on how much money was used…in this case the IADB withdrew the loan…leaving government holding the bag because the NIS pension money of 60 million US as collateral was used to secure the loan..

    There must be paperwork somewhere about what happened to the secured money that was in the hands of IADB…was the unused balance returned, is it still in government’s hands, where is it…how is it the Auditor General’s report says the money cannot be accounted for?

    Dont seem like Robinson knows a whole lot, but still had the gall to have Cow dip his slimy hands into NIS pension fund even after that…. more of poor people’s money for frigging Apes Hill…, are any of those millions to Cow Williams being repaid by him with interest, when he claimed NIS took so long to give him the loan that he was unable to sell the villas.

    …Robinson should have the answer to that one….why do you people give away the population’s money to shady minorities like if it is yours to give?

  8. Caswell Franklyn Avatar
    Caswell Franklyn

    Gabriel

    You are too polite; you really mean another blasted lie from Sinckler. Then again, he might believe what he is saying, simply because he is incapable of understanding what is swirling around him. He has a chronic comprehension problem but pretends to understand, ergo a consummate bluffer and bullshitter of the highest order.

    Sent from my iPad

  9. Well Well & Cut N' Paste At Your Service Avatar
    Well Well & Cut N’ Paste At Your Service

    They think coming with this bullshit about loan was withdrawn means something, when a loan is secured the bank automatically locks the entire amount……Robinson dont know of any money being returned to NIS,….well neither does the Auditor General, he can find no evidence the money was returned…so where is the 60 million US….minus 13 million US that was never repaid to NIS…..either.

    And where is the 60 million US that the Conveyance claimed was paid to government by the same scam artists for the sale of Paradise. …to them..

    Bajans better start asking some serious questions and dont stop until you get answers that makes sense….none of this makes sense…and it all points to grand theft of taxpayers and pensioners money.

  10. Fed Up Bajan Avatar
    Fed Up Bajan

    Sinckler is such a bold face sweet talking LIAR.

  11. Well Well & Cut N' Paste At Your Service Avatar
    Well Well & Cut N’ Paste At Your Service

    “But a senior official associated with Jada confirmed they were now in possession of the property and in the process of seeking investors to get it restarted’

    ….they have no investors to jumpstart the project…so where did the scam artists get 60 million US dollars from to pay government for the property….and cant find 13 million US to pay back NIS the money they owed since 2010 or so?.

    Real business people get their investors first before aiming to put out millions they dont have.

    So they will have us believe they gave government their last 60 million US for the property and are only now looking for investors…..where will they find investors…they are all blacklisted.., Simon Cowell et al sued them for robbing them millions of dollars…those cases are still being litigated..

    …. they could not even bring that crap to my 5 year old grandson.

  12. Hants Avatar
    Hants

    There is a Russian somewhere with enough pocket change to restart the project…..oops!

  13. Hants Avatar
    Hants

    Paradise is a nice place to park a €350 million yacht.

  14. Caswell Franklyn Avatar
    Caswell Franklyn

    It appears to me that no money was actually paid. By the way, I seem to remember that Mia Mottley was acting as attorney-at-Law for one of the players in this Paradise debacle. Did she have any part to play in this matter? Was she aware that this sale was completed? There are more questions than answers.

    Sent from my iPad

  15. Hants Avatar
    Hants

    Its Saturday night and I on BU writing sewage. Must be getting old.

  16. Hants Avatar
    Hants

    @ Caswell you ask questions that some of us are afraid to ask.

  17. Gabriel Avatar
    Gabriel

    It was abroad that Mia was attorney for an interested party in that 4 Seasons project.This scenario is going to tarnish her political image unless she comes square to the people and say what the hell is going on.Muddy waters not good for political wannabes.Effing around with people pension money like Clico is not the ideal thing for Mia to become involved in,so she had better declare her hand up front or suffer the consequences later.

  18. Peter Holder Avatar
    Peter Holder

    But if JADA got the land sold to them, where is the money paid for it?? Where??

  19. Heather Cole Avatar
    Heather Cole

    Does a conveyance mean that money was passed?

  20. Caswell Franklyn Avatar
    Caswell Franklyn

    Heather

    Please see the attached, starting at NOW THIS DEED… It would appear that money was paid
    [image1.jpeg]

    Sent from my iPad

  21. David Avatar
    David

    There is no reason to doubt Chairman Robinson’s publicly stated position that the facility of 60 million was never utilized. If there is any available evidence to the contrary please put it on the table.

  22. David Avatar
    David

    @Heather

    Who will transfer title unless there is pecuniary consideration?

  23. Fractured BLP Avatar
    Fractured BLP

    Hi David

    The young lady in the picture at the top of this article look too sweet !

    I gine vote fuh she ! !

  24. NorthernObserver Avatar
    NorthernObserver

    Hants March 4, 2018 at 9:47 PM #
    Its Saturday night…..
    Skippa twas Sunday nite when you penned that.

  25. Fractured BLP Avatar
    Fractured BLP

    I see that the ” lawyer ” MAM name surfaced in this story .

    I wonder had her legal qualifications to act as an Attorney on this matter ??

    I will await her usual prompt ” press conferences ” to ….” clear the air ”

    Caswell……posed a good question !!

    Over to you MAM and your minion……Well well !!!

  26. Hants Avatar
    Hants

    @ NorthernObserver ,

    Missed a whole day. that happens when yuh doan wuk nuh way. lol

    Back to the Diaspora corner for a Glennis Grace lullaby or maybe straight to youtube,

  27. Well Well & Cut N' Paste At Your Service Avatar
    Well Well & Cut N’ Paste At Your Service

    Fractured Criminal….you can be mad, whiny and bitchy all you want…yall wont stopallowing the minority thieves on the island who always voice their hatred for the 260,000 strong majority population….steal their tax dollars and pension fund money everytime…you dumb house negros.

    Yall got no self respect,, no integrity, none of you parliamentary parasites, ya just like ya minority masters, useless and thiefing…yall work hard for them helping them steal from your own people, you bribetaking maggots.

    “Does a conveyance mean that money was passed?”

    You can confirm…but in my experience…not necessarily, although there are things like stamp duties to be paid and lodging the Conveyance in the Supreme Court as a record of the transaction….many Conveyances are found there, andTitle Deeds can be found at the Land Registry.

    If that is how it was done, just goes to prove once again how the court is misused and abused with the help of government ministers…….if they cannot show proof the money was paid…check the Supreme court….and the Land Registry for a Title Deed for the property, that is a public record….at least that will tell you who signed what,

    ….the supreme court officers, lawyers, the former chief justice etc have been know for decades for forging conveyances for people who own no property, to steal other people’s property…..and so are the Land Registry heads known for forging Title Deeds for those who own no land but who steals other people’s land…..forged documents.

    ….. do some leg work and check it out, the worse that can happen, there will be no recorded conveyance and no recorded title deed, which would make the entire scam a fraud transaction against taxpayers.

    Robinson don’t sound sure of anything, he makes himself out to be the errand boy facilitating minorities to help themselves when they want to steal the people’s money, everytime he is ordered to and he cant say no….and if all of the money was not utilized…how is it Robinson is not saying it was returned to NIS by IADB….his reasoning is he dont know, all he knows is that the 13 million was an investment by government,….. which is not sufficient an explanation, he is the chairman.

    Fractured Criminal…you will fret all day.

  28. Well Well & Cut N' Paste At Your Service Avatar
    Well Well & Cut N’ Paste At Your Service

    Gabriel…I always had a problem with Mia being an attorney for one or two of those 4 seasons cockroaches who love to dip their dishonest hands in the people’s tax dollars and pension fund as if the money is theirs and not the people’s. ….she had no right helping them achieve their conman thefts.

    … …it seemed like a conflict of interest then and still does….. of course lawyers on the island practice conflicts of interest all the time in everything they do, they work for defense and plaintiff as lawyers to both, without the knowledge of the one who cannot pay them the most, of course that unfortunate person would be ripped off and lose any case, but just can never understand why, particularly in land and property cases, but especially in personal injury cases…..their cases get sold out without their knowledge…… all the lawyers see nothing wrong with it although being trained that it is an unethical practice…..with dire consequences. …eventually…..tiday is eventually in Mia’s case.

    ……so the taxpayers and pensioners don’t stand a chance in these conflicts of interest scams with government ministers/politicians and lawyers involved.

    I knew this would return to bite Mia, I have voiced it on here multiple times.

    Now we see part of the reason everything is so muddled and tangled in that incestuous pit…and none of them are going to escape exposure or be able to remove themselves from any of the splattering shit….because they consider themselves a political class of one incestous unit, separate and distinct from the majority population, whose votes they all now need.

  29. Well Well & Cut N' Paste At Your Service Avatar
    Well Well & Cut N’ Paste At Your Service

    “Fractured BLP March 5, 2018 at 2:00 AM #
    Well well

    Why you don’t remain your cage …..yuh mongrel !

    The Government of Barbados took US $ 60 million from the NIS Fund and put in the Four Seasons project ?”

    What are you asking me…why dont you check the Auditor General’s report and every news source and video clip since 2010 of government ministers boasting about the 60 million US “investment” in 4 seasons scam.

    Yall tell to many lies and ya tell all those lies to the people, if ya had not, there would not now be so many conflicting lies and intermingling stories floating around…ya thieves.

  30. Well Well & Cut N' Paste At Your Service Avatar
    Well Well & Cut N’ Paste At Your Service

    BTW…someone said on another forum that there is NO CLEAR TITLE for the Paradise property and it cannot be sold….so….it is worth checking for a forged Conveyance and forged Title Deed..lol

    IF TRUE……no wonder Fractured Criminal is cussing..

    A wonder who that property was stolen from over 50 years ago.

  31. Peter Holder Avatar
    Peter Holder

    Dear Minister of Finance,

    ………………but where is the $120 MILLION DOLLAR from JADA BUILDERS?
    1. Did they forget to pay it?
    2. Was it misplaced?
    3. Is it in another jurisdiction?
    4. Did you forget to collect it?
    5. Is it in the mail?

  32. Heather Cole Avatar
    Heather Cole

    This reminds me of the song ‘Can’t Find me Brother’ by Red Plastic Bag. Now we can’t find this money at all.

  33. David Avatar
    David

    We need to know where to look. This is a lack of communication and transparency on the part of the authorities.

  34. Well Well @ Cut and Paste @ Your Service Avatar
    Well Well @ Cut and Paste @ Your Service

    my experience in viewing forged Conveyances and Title Deeds, the amount listed on the Conveyance, inclusive of the initial 10 percent deposit on the property pre signing of the document…are all paid to the attorney for the Purchaser and held in the attorneys Clients Account.

    that money is held at a bank until handed over to the attorneys of the persons selling the property…by the attorneys of the Purchaser…

    so who are the attorneys for the Pharcipicle cockroaches and who are the attorneys for governmet…

    follow the money…

    if it is not some other convoluted scam arrangement to benefit minsters.

  35. Well Well @ Cut and Paste @ Your Service Avatar
    Well Well @ Cut and Paste @ Your Service

    if it is not some other convoluted scam arrangement to benefit minsters and their minority masters….ONLY

    effectively and competently cutting out taxpayers and pensioners completely…every citizen in the majority population.

    one will notice that is the only time you can find an efficient and competent lawyer, minister or politician, only during their commissions of crimes against their people..

  36. Wily Coyote Avatar
    Wily Coyote

    @David

    “There is no reason to doubt Chairman Robinson”

    This gentleman is a government appointed lacky, why should anything he says be taken as gopel. You Don’t get appointed to such positions if you go against master directions. Everyone remotely associated and paid in any goverment and semi government position, dialog must be viewed with suspicion. Its a shame but this is reality TV in Barbados.

  37. David Avatar
    David

    @Wily

    What the Chairman has confirmed here can be factchecked therefore no benefit to misleading.

  38. Let's Not Remember the FAILED DLP Avatar
    Let’s Not Remember the FAILED DLP

    People I want to know where is the blasted $120MILLION Dollars gone.

  39. Well Well @ Cut and Paste @ Your Service Avatar
    Well Well @ Cut and Paste @ Your Service

    why is the Bushman so quiet though.

  40. Wily Coyote Avatar
    Wily Coyote

    @David

    “What the Chairman has confirmed here can be factchecked therefore no benefit to misleading.”

    Manipulation of the facts is a Barbados Government specialty, all government statistics, documentation has to be very carefully vetted for accuracy. Even the Barbados Auditor General is on record setting he can not reliable report the financial status in Barbados as the documentation for the necessary evaluations are not accurate or present.

    I assume Mr. Robinson is a friend of yours, be careful of friends baring large knifes, reference Julius Ceasar .

  41. David Avatar
    David

    No need to debate fueled by paranoia.

  42. Hal Austin Avatar
    Hal Austin

    Wily Coyote March 5, 2018 at 10:17 AM #

    Mr Robinson should, in my view, be sacked. The political parties vying for control of the government should make it clear that, apart from an unlikely victory for the DLP, he would be removed. I would further claim that he does not fully understand the purpose, design or function of a state pension scheme.
    Other than that, the NIS report is late, and the previous one was over three years late. He is captain of the ship and is therefore responsible.
    Second, the NIS investment policy is like a sailing boat in a stormy sea; there is no excuse of political interference; as a professional and ethical person, if there has been political interference he should have told the politician what to do. Further, it is not his substantive job, so he does not have to fear starving.
    Along with that, the scheme’s investment policies should be made public, there is no confidentiality, since asset allocation is not a secret, and stock picking after the event is no longer secret.
    Finally, by now he should have re-drawn the lines of the hybrid scheme and proposed to government possible changes. Any such proposal should also be made public.
    It is clear to my mind that Mr Robinson is putting his career and status before his integrity.
    Remember that some people derive their status by association, so knowing the prime minister can give as much satisfaction to some people as being prime minister gives others.

  43. Let's Not Remember the FAILED DLP Avatar
    Let’s Not Remember the FAILED DLP

    I am not concerned with NIS or its chairman Justine Robinson……………I am deeply TROUBLED and CONCERNED about where is the proceeds from the sale to JADA CONSTRUCTION.

    Where is the money?

  44. Bernard Codrington Avatar
    Bernard Codrington

    @ Hal at 10 :37 AM

    The world does not work according to your model. How do you know hat Dr Robinson has not done all those “ethical/conventional” things that you are proffering from your safety seat in the Diaspora ?
    Do you think that there are competent persons in Barbados queuing up to serve on NIS and Central Bank boards? It is hard work if you intend to do it properly.

  45. Enuff Avatar
    Enuff

    The dates of and signatures on this conveyance show that MAM nor Mottley & Co. were involved. MAM was leader of the Opposition post-2013, and the lawyers involved are Clarke, Gittens & Farmer and the ever-present Adrian King.

  46. Talking Loud Saying Nothing Avatar
    Talking Loud Saying Nothing

    We need to stop the monopoly of law professionals becoming MPs. They have brought a level of such toxicity to how Barbados is governed that we are we are now witnessing the very collapse of our country.

    What will Mia do to bring real change to the system or will it be business as usual? She is a politician and a member of the law profession. We would be foolish to believe that she will change the status quo.

    My advise to Mia would be for her to shed her spots and to govern ruthlessly. She needs to forget about populism and govern with a mix of kindness and ruthlessness in equal measures.

    We know the make-up of the domestic movers and shakers on the island and we are aware of the Trinidadian businesses/mafias and other international players/mafias who are jostling for control of the island.

    We also know that Mia’s political friends and foes and those who practice the same profession as her have “inadvertently” aided and abetted this reservoir of corruption.

    My questions to MIa are simple: What is your motivation to become Prime Minister? Is it to solely to gain power for the share sake of it? Or Is it to become the Facilitator-In-Chief to allow the continuation of corrupt practices? Or will it be to bring justice to the people of Barbados and to bring revolutionary change to the country?

    The people have your back Mia. But it cannot be business as usual.

  47. Bush Tea Avatar
    Bush Tea

    @ WW&C etc
    why is the Bushman so quiet though.
    ++++++++++++++++++++++++++++++
    Yuh hear that the whacker get tek way…?!!!

    It seems that the Big Boss has determined that the field is so full of cow itch that he may haffa burn it and start over from scratch….

    So why waste gas….?

  48. Hal Austin Avatar
    Hal Austin

    Bernard Codrington March 5, 2018 at 10:54 AM #

    The world does not work according to your model. How do you know hat Dr Robinson has not done all those “ethical/conventional” things that you are proffering from your safety seat in the Diaspora ?(Quote)

    Of course as a senior public official Mr Robinson should give advice in public, but if that advice is continually ignored, then his ethics should kick in and he should walk. Nothing to do with my ‘model’, it is the accepted standard of behaviour citizens should expect from public officials.
    What about the administrative chaos the auditor general points oust annually? What about the extremely late tri-ennial actuarial reports? What about the basic bad investment policies (and if there is political interference then that too is a good reason to walk out)?
    I further contend that Mr Robinson is not very competent when it comes to pensions policy, especially the design or development of state pension policy.
    If I am wrong, my apologies in advance, but plse point me to a single paper on pensions policy written by Mr Robinson.,

  49. Well Well & Cut N' Paste At Your Service Avatar
    Well Well & Cut N’ Paste At Your Service

    So now we know who passed the money, if any, to government lawyers, incestous pricks they all are, is King’s wife still part of the government’s line up assisting the PM.

  50. Well Well & Cut N' Paste At Your Service Avatar
    Well Well & Cut N’ Paste At Your Service

    Bushman…my condolences, but ya cant keep quiet on this one, ya just can’t.

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