External Debt Default WATCH!

On another BU blog it was highlighted the decision by the Financial Services Commission (FSC) to cease trading in government securities – Financial Services Commission Issues Cease Trade Order on Government Securities immediately after winning the government on the 24 May 2018. The FSC communication indicated the decision was informed by government’s decision to default on foreign debt payments. To be expected the ‘bold’ decision caught the country by surprise against a background of an unblemished repayment record and smashed to smithereens the boast of Barbados NEVER defaulting on a foreign loan payment.

Prime Minister Mia Mottley has announced a large team to support the Barbados Labour Party (BLP) campaign strategy to stabilize the country’s declining economy comprised of Dr. Clyde Mascoll, Marsha Caddle, Ryan Straugn, Avinash Persaud and the controversial White Oak Advisory Limited. The finance team is part of a large Cabinet appointed by Prime Minister Mottley that has attracted loud public comment. Particularly there has been rising concern about the role of little known White Oak- not much is known about the company except that the London-based independent financial advisory firm to act as a financial advisor in the debt-restructuring exercise.

Two observations from the blogmaster which have arisen from the decisions taken so far by government and agent the FSC.

There is a reasonable expectation that the impact of the decision by government to default on debt repayments will impact business customers differently to individuals. For what it is worth the blogmaster reminds whom it may concern that Barbadian individual investors were encouraged and assured by the Central Bank of Barbados to invest in the country by purchasing savings bonds. The financial advice was supported by the former government eliminating the minimum savings rate offered by commercial banks. In another market there might have been a prima facie case of collusion. A discussion for another time.

To state the obvious, any decision to reduce yields/rate of return on bonds held by individuals and non personal entities will have significant consequences.  The Prime Minister has promised she will be transparent about the engagement with the IMF. After 10 years of belt tightening there is no relief insight for the immediate future. Who said how did we get back here?

The other issue that has surfaced is the advice by all and sundry to withdraw their monies from commercial banks and place in credit unions. The blogmaster has no problem with supporting the credit unions, the movement has played a significant role in the development of working class Barbados and has the potential to do more. However, a few questions are worth repeating.

  1. How will credit unions sustain existing interest rates of up to 2.5% in a market where there is a low appetite for borrowing?
  2. Why has the credit union league been unable to secure deposit insurance for members?

Two credit union employees from the City of Bridgetown and Barbados Workers Union discussed the competitive position of credit unions compared to the banks. To be honest, the blogmaster was not persuaded by the arguments.

Have a listen and form your conclusions to the 15 July 2018 podcast.

 

 

 

152 comments

  • NorthernObserver

    @PUDYR
    I haven’t followed White Oak closely,
    I never saw it as anything more than a small specialised firm, which offered “advice” on financial matters related to indebted nations. Hence I am not expecting a long employee or client list. And being a private company, the reports found on the beta.companies website exceeds that in most other areas of the world, where there is NO financial information on private companies.
    The GoB hasn’t hired White Oak to “make decisions for them”, or to “handle negotiations with external parties”; rather to offer advice and suggestions, as they move along. The relevant people/authorities in Barbados call the shots.
    I am not saying they cannot be ‘over paid’, or that they will not seek additional and continuing sources of revenue for themselves. But I cannot smell a conspiracy here at this time.
    Further, The PM has taken responsibility for the decisions made. It isn’t as if she is pawning it off saying ‘based on the advice of XXXX’.

    Like

  • millertheanunnaki

    @ Pieceuhderockyeahright July 23, 2018 1:58 AM

    Master Piece, you are on the right mongoose trail.
    Keep on sniffing like a top sleuth of a beagle and you might smell more than two dirty rats about to nibble at the cheese made of large finders’ and management fees paid out of the proceeds of the IMF BoP loans.

    These highly-educated brand of medici are nothing more than high-flying pirates parading behind a façade of Bajan nationalism pretending to salvage the financially floundering SS Barbados.

    We can only wish that the current administration would come clean with the truth about the Bajan economy.

    Like

  • You can always count on Northern Observer to find some way to explain away any questionable actions of this government.

    He bread butter well good.

    Like

  • T. Inniss,

    You are right. What it does is that it inhibits serious, unbiased debate. Some people bring all kinds of experiences to the blog and common decency suggests that we should at least hear what they have to say. The real, objective truth is that this new government (two months in ) has not started with any confidence. If you add to that that time is running our for small nation states, then it becomes even more urgent.
    We are hearing two voices: that of the local elite and those past their valuable working lives, and those living in Europe and North America who have a romantic idea of ‘home’, but will in reality never settle in Barbados again. Nobody speaks up for the marginalised, the unemployed, the under-educated, not even the trade unions.
    The end result is that those with the loudest voices are often the most empty: those who claim that logic is not central to philosophy; those who claim that a proper valuation of a listed company is not just multiples of the share value, but some other subjective value, which although often true, is not based on objective valuations; there is a long list. Even among the experts there is a tendency wing it sometimes.

    Like

  • NorthernObserver

    @Blogmaster
    duly note I have been called a B supporter.

    @HA
    I have two strikes….living abroad with no desire to live in Barbados (though I might spend a few months per year) and past my valuable working life. What about you?

    Liked by 1 person

  • Found your comment to be reasonable all things considered.

    Liked by 1 person

  • Theogazerts

    If the Freundel Stuart administration granted permission without an EIA, what are the chances that had Maloney submitted one when Commissiong filed his objection it would have been refused? Don’t answer.

    Like

  • “Here we go … We would prefer to [sic] an ‘ass’ and a ‘bastard’ before we a blood sucking fucking jew like you. Kiss your mother’s stinking pussy.”

    David BU

    Wow…….

    And could you image the words “DLP pimp” was deemed by the resident pantomath, to be “language that seeps beneath the gutter?”

    I doubt very much he would come off his high horse to criticize the above comments……. as such criticisms are hypocritically reserved for specific individuals.

    Like

  • @Artax

    Jus ignore, that is Jack Boreman and a well know and respected BU commenter.

    Like

  • The dawg Annakani dirty draws are being exposed and the smell real sh…..ty
    Gonna tek nuf rolls of toilet paper to clean up all that sh…..t rollling down dalkeith Hill
    But PM Stuart warned them that when they lie down with lions they gonna get mauled
    Annakani better hit the ground running fast
    Before he leaves he better give them the credit card cause like barbados debt Roslyn say it is over due
    Wuhloss day does run till night catch up
    But who would have thought expect a month ago i said that NUPW was going to implode

    Like

  • pieceuhderockyeahright

    When one makes specific statements about revenues of a so called Sovereign debt management firm which according to the Prime Minister is a firm that has worked with 12 jurisdictions AND THE SAID FIRM’s STATED FINANCIALS ARE NON EXISTENT AFTER BEING IN BUSINESS FROM 2009 well ammmmm all de ole man gots to say is dat “WE GOTS DIS”

    There is no further need for de ole man to prosecute this matter about the HOAX WHITE OAKS

    It is evident to the more discerning readers here that the firm’s financials are inconsistent with the rating and ranking that the Prime Minister is saying they have.

    And Mariposa, my audience is not your non existent DLP nor for that matter our gullible sheeple but the IMFs and the international funding and development agencies.

    I want that they are aware of this false front entity that is in bed with the BLP TO STEAL THEIR MONEY.

    So this big foot move is exposed AT COMMENCEMENT prior to any contracts being signed.

    So don’t think dat de ole man can be distracted by all the soft soaking.

    AND NEITHER WILL THEY

    heheheheh

    Like

  • Albert Brandford in his column last weekend makes the point that implementing integrity legislation is a prerequisite for closing the IMF deal. This is the same point BU commenter Whitehall made last week as well before the article.

    Like

  • pieceuhderockyeahright

    @ the Honourable Blogmaster

    And that The BU David of Old is the precise bullseye of my reticule.

    I am not interested in what the DLP IMPS nor the BLP neophytes are slipping in here and there

    The World Bank, the IDB and the IMF and all the “FREE MONEY AGENCIES” that Mottley and her lot of schemes are looking to teif their millions ARE THE ONES THAT THE OLE MAN IS FOCUSED ON

    This prosecution has NOTHING TO DO WITH THE INSIGNIFICANT MIA MOTTLEY!

    MY “Come To Jesus” moment is not one affected by or predicated on by anything that I can get from Mottley et al.

    What I will speak is the Truth that My Father is showing me and the fact that IF SHE CHANGES ALL WILL GO WELL WITH HER TENURE.

    She will have a LEGACY but if she continues on this path she WILL BE A FIVE YEAR GOVERNMENT.

    So let her continue to try to hide the rape of the people under triple contracts using the money from these agencies

    LET THE OLE MAN DEFINE TRIPLE CONTRACTS AND HOW SHE IS SETTING THEM UP under the cover of her Night of the Long Knives

    So let us say I have 3 agencies funding three disparate programs.

    And the threshold for one agency’s salary is Us$5,000 She is setting up her friends as the parties being paid by that agency AND TWO OTHERS!!!

    Little does she know thst the International Agencies have gotten wind of this Bajan trick and are ***

    Finally.

    You see this 1933 Enabling Act?

    This is designed to lockup ALL DISENTING OPINION INCLUDING YOU DAVID!!

    People are noticing how your other proxies’ presence is diminishing and you are at the steering wheel more often

    Take a look at the blogging around the island David

    Watch what people are saying around the place ALL AROUND THE PLACE and you are starting to see a temperature to the timbre of commentary.

    And Mottley fears this.

    She could not give a damn about the common SHEEPLE cause dem will always be sheep.

    But you see the more discerning Blogaratti?

    DEM is de ones she fears.

    THAT is why Grenville and the rest of them clowns have to get their act together to keep the MAY 24th MOVEMENT ALIVE.

    IT DOES NOT MATTER HOW SHE WANTS TO SUBJUGATE THE MASSES TO THE SINGLE WILL.

    The state of play WILL NOT ALLOW HER TO DO WHATEVER SHE FEELS LIKE DOING.

    AND AS LONG AS YOU KEEP TRUE NORTH David she going have to WATCH WE NOW…

    Like

  • pieceuhderockyeahright

    @ NorthernObserver

    Maybe it is the fact that having the concept of “attention to detail” drilled into you daily as a consequences of one’s discipline….

    Or maybe it is the fact that some genetic predisposition euphemism for anal retentiveness has one so wound up that you see details in everything written, spoken or unspoken.

    But let me show you something.

    You said and I quote “…The GoB hasn’t hired White Oak to “make decisions for them”, or to “handle negotiations with external parties”; rather to offer advice and suggestions, as they move along…”

    THAT is not true.

    And de ole man went back to the link caribbeansignal below to see what was stated as the role of White Oak the HOAX about 5 weeks ago.

    And behold, this site that has called itself by the misnomer Caribbean Signal but only has Barbadian News about Mia Mottley HAS CHANGED ITEM 9, 10 AND 11 which had previously enumerated several of the White HOAX functions.

    Dr ole man is on the iPad now so I can’t retrieve the material previously recorded but Artaxerxes wohld be able to share what de ole man had previously captured on that site and posted here.

    As another blogger previously noted about your submission rather counter to my own seems to bypass the simple incontrovertible fact that de fellers returns AIN’T ADDING UP TO THOSE OF A FIRM WITH THE CAJUNAS REQUIRED TO MANAGE OUR CRITICSL INTERACTIONS WITH MULTIPLE CREDITORS.

    And their Mickey mouse website confirms that they are LIKE CARIBBEANSIGNAL nice-ing up previously unprofessional websites for the benefit of the several Due Diligence departments of the various funding agencies that the new BLP administration is seeking to pillage

    I await your response regarding the paltry revenues of a 10 year old SOVEREIGN Debt restructuring company (i cant count) but am sure that you cant give any response.

    Let me see if I can help you with this one by using your preliminary rationale.

    White HOAX is in fact a holding company which siphoned off ALL REVENUES FROM ITS ENGAGEMENTS TO OTHERS OF ITS COMPANIES.

    So what the GOB and the WORLD Bank can expect is a bill from Espinosa or Nagasaki or whatever his name is.

    Which of the entities do you feel will sign the agreement with our government?

    Following on from your response WHY HAS IT BEEN THAT IN GHEIR NJNE YEARS SAID PRIMARY CONTRACTOR DID NOT SIGN WITH OTHER JURISDICTIONS AND RESULTINGLY show more substantial revenues given that our noble Prime Minister Mottley has said that these are SOVEREIGN DEBT Whizz Kids who have been dojng this for years?

    You with me NorthernObserver?

    IT IS NOT ADDING UP YOU UNDERSTAND AND THE BLINDEST MAN ON A TROTTING HORSE WOULD SEE THIS

    Like

  • pieceuhderockyeahright

    @ the Honourable Blogmaster your assistance please with another item thank you

    Like

  • Do we know if the Opposition Leader accepted the offer of the prime minister to meet with White Oak reported to be on island this week?

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  • pieceuhderockyeahright

    @ the Honourable Blogmaster

    He, the leader of the opposition probably will accept that invitation

    But here is how that whole fiasco should have gone.

    Prime Minister Mottley should have made available the particulars of that firm like her Public Relations officers did for Rawdone Adams.

    Bajan SHEEPLE and the more sensible bajans should have been able to peruse their credentials PRIOR TO ANY SUDDEN VISIT TO BARBADOS

    Now here is the thing for your consideration.

    Dr ole man has submitted enough information here to scuttle Mia’s endorsement of these Whizz Kids of Sovereign Debt story that she tried to bluster Bishop Reverend Father Joseph Atherley with a few weeks back.

    So what is he going to do Now?

    Do you see this feeble man going into a meeting with these white menses (I know dat Espinosa sound Spanish and Nagasaki sound Japanese but you know how we Bajan a does act wid anybody who ent black) you see he going in deah and asking dem to explain dem paltry financials?

    Or you see him getting de balls to demand dat Mia give him de peeple testimonials?

    Or you see he asking for notarized financials pun de peeple dat de cuntry going rely pun to represent we interests?

    You feeling Me?

    You see how mia got we box in wid dese tricks?

    You see how we getting screwed in 50 days?

    De grandson at wuk so de ole man ent going get no Stoopid Cartoons bout dis for a while but…

    We bajans HAVE TO BE PREPARED TO ASK THESE HARD QUEDTIONS.

    IT’S OUR LIVES THAT THEY ARE PLAYING WITH and we cannot afford anothe DLP government nor a MUGABE regime!!!

    Like

  • millertheanunnaki

    @ Pieceuhderockyeahright July 24, 2018 9:03 AM

    Keep gnawing away Master Piece at this ‘woolly’ façade made of white Oak.

    For you are getting closer to the dead meat of the scamming matter to make the Cahill camping boy scouts under the guidance of the chief white collar financial-loving necrophiliac crow the Quisling Boyce look like a jamboree for ‘crooked’ novices.

    Both the Pierhead Marina Redesign heist and the Sugar Point Cruise Ship Terminal getaway would soon look like taking food from a baby’s mouth.

    Like

  • Holy Oats we all soon be eating dry Oats

    Like

  • According to today’s Nation, Avinash Persaud is a financial analyst. Is he? We know he is an economic consultant to the minister of economic affairs and chairman of the Financial Services Commission and he is also reported to have said there is a long queue of local and foreign investors waiting to invest in Barbados, if only we could remove the red tape.
    Who are these investors? And what services or industries are they so keen to invest in? Why should investors object to the regulatory framework? Is Mr Persaud, chairman of the FSC, suggesting that what he called red tape – what others call regulations – are getting in the way? Is this view now the official government view?
    Is the head financial watchdog now saying regulations are getting in the way? There will be tears before bedtime.

    Like

  • So here is another observation for Our Prime Minister Mia Mottley who was adamant in her protestations per White Hoax.

    So let de ole man teif an excerpt from the Nation News which uncharacteristically says and I quote

    “…However, Atherley’s attempt today to compare the failed Cahill to the London-based White Oak, which was recently appointed by the Mottley administration as restructuring advisors for Barbados as the country undertakes a debt restructuring exercise, agitated the Prime Minister somewhat…

    AGITATED HER SOMEWHAT??? dem dere is strong words dat de granson gine use

    “…she proceeded to explain that the firm was responsible for the restructuring of sovereign bonds in several countries, and had done work either alone or in conjunction with other firms in places such as Belize, Ecuador, Grenada, Iceland, Pakistan, Seychelles, St Kitts and Nevis, St Lucia, Côte d’lvoire and Argentina, among others….”

    Now de ole man is somewhat slow as all uh wunna dun know so leh me read dat again fuh wunna

    ‘…Belize, Ecuador, Grenada, Iceland, Pakistan, Seychelles, St Kitts and Nevis, St Lucia, Côte d’lvoire and Argentina, among others….”

    So eider Marlon Madden is lying when he gives this list of 12 countries OR my NorthernObserver friend is trying to obuscate the issue when he says he was “…not expecting a long employee or client list..” or Mia Mottley is lying when she is talking bout White Hoax.

    But hold wunna hoses a likkle

    tek a gander at this additional detail on the same UK companies site

    Wunna see dat last line at de bottom of de page?

    Help de ole man causing i cant see de best and ting and will need wunna eyes to unnerstand tings like dis

    De grandson texting de ole man so I gone for now BUT I coming back as soon as he dun gi me de tings dem

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  • @ the Honourable Blogmaster

    Your assistance please with an item of continuance on Prime Minister Mottley’s words and strong remonstrations in the House of Assembly that “White Oak is no Cahill…”

    Sorry it was not the Nation News it was in Barbados Today

    https://barbadostoday.bb/2018/07/17/white-oak-is-no-cahill-assures-mottley/

    De ole man wonders effing Peter Harris and Kaymar Jordan (dat lovely lady) would want de ole man to contribute any articles to dem newspaper?

    Wunna know dat dem block de ole man mekking comments pun dem blog pages?

    Yes boasie de ole man cant post pun none of dem pages causing I is moderated.

    It look like de ole man ent going get no pick in barbados (nor piece heheheheheh) so whu is de ole man to do?

    Like

  • But David aint picking teet .Holy Oats
    Mia hitting the ground leaving nuff smoke behind
    Run Mia Run
    De ole man trying to catch You

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  • “Wunna know dat dem block de ole man mekking comments pun dem blog pages?”

    PUDRYR

    Man, doan worry, duh block me too.

    But I could read several posts written by Carson C. Cadogan, Green Giant and uh whole riffle uh apologists fuh a specific political party……to every news article.

    Like

  • NorthernObserver

    @PUDYR
    So you would have preferred if the GoB has sought restructuring advice from Lazard or Rothschild, or an arm of KPMG, McKinsey etc?
    Or is it you, potentially correctly, assume somebody-somewhere is benefitting, so let me see where de teefing is?
    Or is it each time the GoB contracts a third party, you wish to know in minute detail all the particulars of that contracted entity, including the contract itself?
    Some beta website, (I know that you know this means “experimental”) which admittedly has been around for a while, publishes some minimal unaudited statement of financial position, (and u also know this company is one of several related entities “that we know of”….there are likely more in different jurisdictions?) and your primary concern seems to be “dis company isn’t as big as expected”
    so like Miller suggested, keep on, and maybe your digging will discover a gold mine.
    Personally I am far more interested in how the GoB deals with the much larger local components of its debt.

    Like

  • PUDRYR

    These newspapers and hypocritical party supporters duz really freak me out.

    I recall one fellow that used to frequent this forum called “NationBLPnewspaper,” that would buy the Nation just gripe about it being pro BLP.

    But I wonder if he gine be HONEST and CONSISTENT and change he moniker to “BarbadosTodayDLPnewspaper,”and gripe about that paper’s obvious bias towards the DLP…….

    ………or he gine remain silent because Kaymar and DEM saying the t’ings he want to hear.

    But, wait……Piece, you like you telling lies or paranoid in yuh old age, yuh?

    Causen yuh blaming de blogmaster fuh blocking yuh post…..and now yuh blaming Barbados Today.

    Why you doan leh de grandson post dem t’ings fuh you?

    Like

  • piece uh de rock yeah right mekking a nuisance uh heself AS USUAL

    @ NorthernObserver

    Alrighty den

    De ting is that you and I dun know that you does deal in these situations ON A DAILY BASIS unlike some of us experimenters here.

    heheheheheheh

    So let me accept that this is an experimental site as per the wording beta.

    So I have accepted your premise.

    Then tell de ole man where did the site get the financials of this and the other companies that they are broadcasting?

    Are these experimental financial details as well?

    In the UK where a man does get sue for broadcasting libelous content in a hurry?

    But stick with the ole man just a while longer.

    Do you know how the IMF the IDB and these various entities accept the qualifications of these intermediary organisations?

    Do you understand their vetting processes?

    So given your reasoning you have inferred that the GoB should not be getting number one in the list because we are into austerity measures NOTWITHSTANDING HAVING 26 Ministers and nuff more consultants but… she is to go to the 1069th ranked entity and pick a 2 man company?

    What I mean to say is that I would want a debt restructuring company WHICH

    (a) IS NOT VAPOURWARE and which has healthier financials and
    (b) whose bona-fides are available on the internet as a google search THAT IS NOT “RECURSIVE” that is they do NOT lead to testimonials by characters like Enuff of Lorenzo duo or to endorsement by the same fox that is guarding the chickens

    Maybe de ole man is paranoid and maybe, given the preceding 10 years of the DLP and the 15 years of the BLP when Mottley was AG and Minister of Education, maybe i ent got no conceivable reason to be suspicious of all uh dem.

    I really ent got no reason to be digging doah..

    Maybe I too got skin in de game insofar as

    (i) how the government deals with local debt with the several banking institutions (not as much as you heheheh) and
    (ii) maybe I got skin in the game as it relates to how the government deals with the regeneration of the economy I ent know or
    (iii) maybe I is jes a bitter ole man that ent got a ting to do in me retirement but to come heah and mek a nuisance uh meself

    I feel dat it is number III doah. Len me get Mariposa to give an opinion on that

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  • @ NorthernObserver

    I going cut and paste fr a few moments FORGIVE ME.

    https://www.globalwitness.org/en/blog/first-look-uk-beneficial-ownership-data/

    “…As we wrote on this blog last week, the UK government has just taken the bold step of publishing the world’s first fully open register of beneficial ownership.

    This is the first dataset of its kind, and the information promises to tell us who really owns UK companies, whilst making it harder for criminals to hide dirty money.

    As we explained here, we need this information so that businesses know who they are dealing with, civil and environmental rights can be protected and so that law enforcement and civil society are able to detect tax evasion and money laundering…”

    You see why de ole man always talking bout white people dem???

    “…the UK government has just taken the bold step of publishing the world’s first fully open register of beneficial ownership…”

    Now mind you, de ole man could show you a ting dat a feller do in 1997 and present to some peeple dat was repository of businesses and ting but dat feller was a Nigger so dat did not important.

    But let me not digress as is de ole man’s wont

    THis is the official site of the UK government irrespective of what dem call de domain name.

    Dese is de real fellers unlike White Hoax and all the mixing of their financials

    THis is the real information that we need in Barbados “Beneficial Ownership” where de minister with de Naked White Wummens reading de news wife could be catering fuh de parliament.

    You sight me!

    Dis is de reason dat de ole man digging for gold causing after all de smoke and mirrors of bring dat white man from Estonia, we going end up wid a certain Senator Son as de main feller who gine benefit from Mia’s largesse

    But leh we read what de white people write bout de white people records

    “…from our analysis of the most recent data (published on the morning of 8th July 2016) there were over 28,076 beneficial owners on record (referred to as “persons of significant control”) and over 22,595 UK registered companies had filed information on at least one beneficial owner…”

    So what that means is dat of the “…22,595 UK registered companies had filed information on at least one beneficial owner…” one of them effers was Espinosa or de next feller and nobody ent twist dem hand to submit that information.

    I believe that I know who you are and IF YOU ARE WHO I THING YOU ARE, you have been to the ole man in my hours of need but, in the final analysis Northern OUR COUNTRY IS DYING and Mottley and her crew are setting us up for more fooping IF WE ALLOW THEM TO.

    We have to Make them honest against their will.

    Like

  • NorthernObserver

    @PUDYR
    I have no idea exactly where the site gets its info from, other than as one can see some documents have government type stamps on them. Ask Hal, he is far more knowledgeable about UK based entities than I ever will be.

    As far as vetting, since these folks are not working “for” the IMF/CDB etc, I doubt they have any concern. In any discussions, WOak would be a representative of the GoB? Vetting is up to the employer? I am unaware of any certification required.

    Appreciate, beyond Nation’s, they are a host of towns, cities, states, provinces, counties etc etc that all have governments, and all can spend more than they collect, and seek “advice”. So there are a wide cross section of entities prowling in the public debt restructuring space.

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  • It is the government’s responsibility to carry out due diligence. In the UK, all limited companies, partnerships, etc must be registered with Companies House. It is illegal for annual financials not to b submitted every year on time; if a company is late and it is drawn to the attention of Companies House they can be fined.
    Other information sources are the credit references agencies – Experian etc – for both companies and individuals. Then there is the register of County Court judgements, which is a public record of any cases involving the company or key individuals and the information is privileged. Then there is trading standards, again which is a public record. Also the records of the regulators.
    There are numerous other sources which I decline to reveal in a public access blog. But the sources are there. There is no hiding place.
    Solicitors are good people to act as agents, but they will have to be paid.

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  • I wasn’t going to touch this any further with a 10ft pole, but I have decided to post some links that I read weeks ago about Piece’s new found project and I am sure he and others have as well:

    https://ftalphaville.ft.com/2012/03/16/927231/a-proper-debt-restructuring/
    https://www.ft.com/content/4aa6522c-2caa-11e0-83bd-00144feab49a
    https://www.reuters.com/article/seychelles-bonds-idUSL5N11233K20150827
    https://www.ft.com/content/3e57f938-ea77-11de-a9f5-00144feab49a
    http://www.mfa.gov.sc/static.php?content_id=36&news_id=971

    Hear Hal: “According to today’s Nation, Avinash Persaud is a financial analyst. Is he?

    But are you? Didn’t Avinash attend London School of Economics, one of the Russell Group universities you like to brag ’bout here on BU? lmbao

    Like

  • Piece….don’t worry, they will all soon be sharing a cell with Herbert…lol

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  • Northern Observer

    @HA
    When private entities file, does that also mean filed documents are in the public domain?
    In Canada, private entities have to file a number of different documents, but the public indicator is whether the filing entity has filed (complied) not the content of the document(s) filed.

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  • What do you mean by private entities?

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  • Look I am a simple ole man not much into the fancy tings dat does define wunna fellers

    I do not want nor will I process single source information nor recursive information.

    Thus far there are 3 sources of information that are freely available on the internet that it would appear that this company AND ITS PRECEDENT submitted for itself

    https://opencorporates.com/companies/gb/10090922

    Unless someone is trying to falsify documents about the said entity then it still stands that the company is 1069th in its rankings and its financial statements do not mAKE THE ENTITY one of first choice UNLESS THERE ARE CERTAIN BENEFITS TO BE HAD from such an engagement.

    Enuff of Lorenzo returns to their collective vomit and provides a few links to the Financial times which require one to be a subscriber but that i would hazard refer to one single assignment i.e. the Seychelles

    THis is what I am reading online for this entity NOTWITHSTANDING THE 10 ft pole links that Enuff is providing

    And I am seeing more of these than I am seeing the ones that the two of them have provided

    “…White Oak Advisory Limited LONDON

    Founded in 2016, White Oak Advisory, classified under reg no. 10090922 is an active company. Currently registered at 42 Brook Street W1K 5DB, London the company has been in the business for 2 years.

    Its financial year was closed on March 30 and its latest financial statement was filed on Fri, 31st Mar 2017.

    Since Tue, 26th Apr 2016 White Oak Advisory Limited is no longer carrying the name White Oak Ventures.

    The firm has one director. Juan E., appointed on 30 March 2016. There are currently no secretaries appointed. As of 24 July 2018, our data shows no information about any ex officers on these positions…”

    The company has no corporate secretary/ies appointed so it would appear to be a one man outfit NOW TURNED INTO TWO.

    Additional searches reveal “…The list of persons with significant control who own or control the company consists of 1 name. As BizStats researched, there is White Oak Ventures Limited from Canterbury, United Kingdom. This PSC is categorised as “a limited by shares”, has 75,01-100% voting rights and has 75,01-100% shares. This PSC has 75,01-100% voting rights and has 75,01-100% shares….”

    But just as a matter of interest

    Dont you think that is should be incumbent on any Caring Incoming Government, coming in the footsteps of the past Demonic Labour Party, to be promoting companies whose corporate profile is OPEN AND TRANSPARENT as opposed to the GoB finding “stray cats” that you have to dig deep to find their bona-fides?

    Steupseee

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  • It is practically two months now that Mia Mottley unfortunately became the Prime Minister of Barbados. What are the changes that occurred as a result of her taking over the mantle of leadership? Only the shit on the South Coast being shifted from the road to the beaches at Worthing & Hastings. What else has changed? Only the credit worthiness of Barbados being completely destroyed as a result of the nonsensical and stupid decision to default on paying our external creditors. What else has changed? The massive vengeance campaign being targeted at public servants with the daily firing of public officers.What else has changed? The onerous taxes being levied on the people of Barbados such as the increase in water rates and the new form of the Solid Waste Tax. What else has changed? The weekly shootings and killings of Barbadians. What else has changed? Nepotism reaching an unprecedented heights with family members of the PM a such as the discredited anti- Black fraud David Comissiong being rewarded for his efforts in frustrating many of the previous government projects. What else has changed? A disgruntled public service fearful of their jobs.
    A one term government.

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  • NorthernObserver

    Businesses which are duly incorporated, Ltd, Limited, Inc, LLP, Partners Ltd etc which are not traded on a stock market., and Not sole proprietorships.

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  • Ok Piece i tell u that yuh own yuh own.None if the blp toads gunna help yuh . David mout shut . George brffwaite he mout closed tight and the Heather Cole she mout aint saying pint. Remember dem were members of the Blp brigade fighting tooth and nail against Cahill and yuh need that type of arsenal to keep the fire burning
    Yuh could bet yuh last dollar that not one of them going say Yea or nay about White Oaks

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  • Would be of interest if the name of the businessman connected to the drug haul last night was published
    But i have a feeling he might be close to the powers that be

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  • According to british and Barbadian laws as well as US laws, one can incorporate a company and be a sole director, we de facto, is much like a sole propietorship NOTWITHSTANDING ALL OF THE LEGALESE that would say otherwise heheheheheheheh.

    It was a one man company now it is two and soon it is going to be a 3 three card company.

    De grandson doing a stoopid cartoon bout dat 3 card ting too.

    But in the meantime he send dis

    I got to talk to me grandson doah.

    I tell he dat to put in Why is Mia PLAYING DAT SHE VEX with Atherley and he done gone and do he own ting.

    Now Dr. Belle is suggesting that instead of Bishop Reverend Father Atherley

    (a) being a plant as per de ole man’s feelings

    or

    (b) being the manifestation of the no existent conscience of the BLP

    her is proposing that

    (c) Athereley is the leader of a breakaway faction within the BLP

    dem only giving de granson extra wuk wid dese Stoopid Cartoons

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  • Oh before I forget what else has changed? David of BU being full exposed as an agent provocateur for the Barbados Labour Party and and a waste of time cabinet filled with a number of half day ministries with nincompoop ministers.

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  • @Negroman

    Hope you feel good now that you have relieved yourself?

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  • Northern Observer

    @piece
    My memory is the Ventures co was incoporated in 2009 and the name was promptly changed to advisory or similar. And it has changed back and forth since 2009.
    If u search Nagowski he is linked to a company which links to one of the White oaks going back to 2009.
    Hence I don’t think there is doubt they have been around since 2009.
    Possibly earlier in an unincorporated form.
    Sorry I’m traveling an can’t use my phone like a puter.

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  • 🙂

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  • Northern Observer

    Sole director does not mean sole owner. In fact, a director need not own any shares. And the majority, or any owner, need not be a Diwrecker.
    I think they are already 3, as one Sophie Espinosa could have a share or two. She is certainly a part of “associated companies”.
    You may recall one Pharliciple LTD, incorporated with a single director, which changed shortly before it acquired assets from Clearwater Bay, which the latter apparently acquired via backing loans to get 4 Seasons rolling again. I believe we are still awaiting the promised “update”?
    But surely since MAM was legal to one related entity, and Persaud was front and centre, and Sealy and Sinckler had ministerial responsibility at the time, the 4 could convene a joint update? Dat would be sweet.
    Now piece I know this Mary Jane legalization spinning heads, but I meant joint as in all together. Cause we really don’t wish to hear them, just watch their faces!!!

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  • Every time some one oppose Mia decisions David would come out to attack them
    Wuh wrong wid you David

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  • Your head is so hard you lack the ability it seems to say thanks for the correction.

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  • Piece

    You can find the principals of White Oak contributing to research on debt restructuring with the World bank, IMF, thw Commonwealth; find them in the FT, not the Adviser, the FT and Reuters; and, associated with St.Kitts, Grenada and Seychelles restructuring. Google Cahill.

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  • @ Enuff

    Let me say this as briefly as possible.

    No one will query the existence of either of the principals acting in their individual capacities at any of these august organizations.

    In fact one does get some glimmers of the advice that Espinosa rendered in the Seychelles and further review would probably secure information as to the efficacy of such advice variously delivered.

    My specific prosecution lies in the matter that was particularly by the Honourable Prime Minister who is being advances as “the paradigm of Truth and Restoration of Barbados” getting up in the august House of Assembly, in the presence of all her Honourable colleagues, and stating that White Oak Advisory Limited “was and is a world renown Sovereign Debt Intervention entity.”

    She then proceeded to belittle her “plant” the Leader of the Opposition, Bishop Reverend Father Atherley, and by extension de ole man since you have also given me that job, in absentia.

    THIS WAS A BLATANT LIE and in this regard what it means is that these two men are personal friends of some party or parties in the BLP administration and have been recommended to bring specific expertise to the Mix.

    Which makes me wonder why the Front Organisation?

    You understand what I am saying?

    If you have two consultants, of a particular ilk, WHO HAVE DELIVERED CONSISTENTLY and have been highly recommended, then say so.

    And while we would probably stillhave done down a road of “who de badword is dese fellers, it still ultimately would come down to the point of a choice among consultants AND THEIR CREDENTIALS WOULD HAVE BEEN PROVIDED AS THEY ARE NOW..

    Now what you/rather she has done is to tarnish the reputations of two men who have worked tirelessly to create their reputations by stating that their company and they were doing all these things.

    But you needed to show the IMF a corporation and it has come over like you have manufactured a company profile WHEN IN THEIR INDIVIDUAL CAPACITIES the men have paid their dues.

    Wunna gots to declare what wunna paying them cause right now it done look suspect if there is any collusion in their engagement a la Downlowe and CAHILL.

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  • @ David BU, what’s with you and this ” Whitehall ” ? Anyway, the road at WhiteHill is being repaired, soon I’ll be able to go home again.

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  • Just a typo. It happens. Profuse apology extended for getting your moniker all wrong.

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  • מאמר מצויין. למדתי לא מעט

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