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Government Moves Full Steam Ahead with the Debt Holder (Approval of Debt Restructuring) Bill, 2018

OBJECTS AND REASONS     This Bill would provide for (a)  certain individuals and institutions holding treasury bills, treasury notes and debentures issued or guaranteed by the Government of Barbados; and (b)  certain individuals and institutions holding certain other Barbados dollar denominated debt instruments incurred or guaranteed by the Government, state owned enterprises or Government…

,

OBJECTS AND REASONS

 

 

This Bill would provide for

  1. (a)  certain individuals and institutions holding treasury bills, treasury notes and debentures issued or guaranteed by the Government of Barbados; and
  2. (b)  certain individuals and institutions holding certain other Barbados dollar denominated debt instruments incurred or guaranteed by the Government, state owned enterprises or Government supported entities,

to facilitate the restructuring of those instruments through the voting process set out in this Act and to bind all the affected creditors to the terms of the comprehensive debt restructuring proposals where a specified super majority of those creditors approve the proposals.

147 responses to “Government Moves Full Steam Ahead with the Debt Holder (Approval of Debt Restructuring) Bill, 2018”

  1. Hal Austin Avatar
    Hal Austin

    Forensic accounting? Like the kind used by the judicial review of Clico?

  2. WARU Avatar
    WARU

    by NoPieceoftheRockforme…ah like that one..lol

  3. Backooful Jack Avatar
    Backooful Jack

    @Hal Austin unannounced default? The default was announced with the social partners on june 1st, 7 days after the election. That same night Christine Lagarde put out a statement saying that the PM spoke to her and she would be sending a team to Barbados. So. I don’t know how you can call that unannounced. I even have the video:

    Here is Lagarde’s statement from June 1

    There is too much information out there nowadays to lie.

    You may not like the PERSONALITIES in the government by telling blatant lies about the governments actions, in the age of plentiful information and social media causes you to loose all credibility. But then again you are the one ho says that foreign reserves don’t matter.

  4. Backooful Jack Avatar
    Backooful Jack

    Lagarde’s statement

    https://www.imf.org/en/News/Articles/2018/06/01/pr18213-statement-by-imf-managing-director-christine-lagarde-on-barbados

  5. David Avatar
    David

    Please add mMoney is not a crypto currency.

  6. Mariposa Avatar
    Mariposa

    Bull Sh.it no f…unkg excuses for ten long years Mia decried all of govt events saying her party if returned to power would make things better
    Long and short Mia and her clueless band is part of all of barbados problems.. for 14 long years when in power never once initiated a plan to place barbados on economjc stability
    The bell that the blp was calling to be rung was rung and the end result shows that now being called to serve they have nothing to offer but a bunch of lame excuses and blame
    Is this what the country must endured for another five years plus the dreaded economic pain and suffering by this govt

  7. Enuff Avatar
    Enuff

    Hahahaha the BLP and Mia gine kill you.
    By the way, don’t BA investors, unlike CLICO, have to wait until retirement to get their money? The original agreement was that their pension plans could have been cash surrendered after 10 years with no penalty. Who made that decision? Don’t answer!!

  8. Hants Avatar
    Hants

    ” Prime Minister Mia Amor Mottley of Barbados had a brief a photo opportunity with President Donald J. Trump and First Lady Melania Trump prior to the Diplomatic Reception Monday at the Lotte New York Palace in New York.”

    http://www.nationnews.com/nationnews/news/198965/pm-mottley-meets-trump

  9. Hal Austin Avatar
    Hal Austin

    Once more, mMoney as proposed is a payment system. Bittcoin is a crypto-currency. Are they going to be processed through the same technology?
    Let us say, for example, you borrow money from a bank. The lender does not get up and give you a bin bag full of cash; he opens an account for you and, in most cases, gives you a cheque book to go out and spend; you can also cashing a cheque – one is virtual money and the other fiat money..
    Over 70 of the world’s leading banks have just turned to blockchain to bar any new system of payments through the Interbank Information Network. In time, there will be a seamless merger and the new system will be dominated by the old traditional banks. So too with mMoney.

  10. Piece Uh De Rock Yeah Right Avatar
    Piece Uh De Rock Yeah Right

    @ the Honourable Blogmaster

    mMoney could as well be a “cryptocurrency” given all to the cryptographic-like machinations that are afforded its launch.

    Examine the lack of transparency and the bias for one single product that is accorded its (immediate) endorsement and adoption by this BLP administration.

    But, of one thing that all of you can be assured the IMF financial due diligence of the Christine Lagarde’s ARE NOT LIKE THE FAILED STATE PROCESSES OF Mickey Mouse BARBADOS.

    Imagine that ICBL gets singled out by the government of the United States and they have to get a forgiveness and IN THE FACE OF INCONTROVERTIBLE EVIDENCE OF A CORPORATE BRIBE not a feller ent get charged here in Barbados.

    But de ole man going mek a prophecy right here and now.

    As surely as Bill Cosby Get 3 to 10 years for those rapes, you see Pornville? he is going to get locked up in the United States of America and no amount of favouritism and back door begging is going to avert that sentence.

    All that one has to do is make a message like “Will Donald T Trump be ruled by a Third World FAILED STATE Leader Mia Mottley? Republicans want to know…” and send it to you know who and we start to see who the boss is.

    https://i.imgur.com/fOUhRMv.png

  11. Piece Uh De Rock Yeah Right Avatar
    Piece Uh De Rock Yeah Right

    Add a bit of alternative facts to that mix and send it where? and all the pretence in the world to get Pornville free is a wast foop.

    Wunna dont want to be clean the honest way and find it hard to keep wunna fingers out of the cookie jar well let us see how wunna going spend this money that has been gotten by by ill means, let us see if you going be able to retire in the US and spend the money.

    All uh wunna feel that GOD is a man who lives in My Lord’s Hill next to St Giles Boys School.

    People must rise up and protect what is theirs….

  12. WARU Avatar
    WARU

    I am here betwixt and between..lol

  13. Hants Avatar
    Hants

    @ Piece Uh De Rock Yeah Right,

    If Donville is guilty he should be locked up.

    What about those who paid the bribe ?

    Should they not be charged in Barbados ?

  14. Enuff Avatar
    Enuff

    David

    Good luck.

    I see some talking about a MoM and regulation. I have two questions:

    Have the experts read the Memorandum of Understanding?
    What does “he [Yarde] made no mention of legislation nor gave a timeline for implementation” suggests?

  15. David Avatar
    David

    cryp·to·cur·ren·cy
    ˈkriptōˌkərənsē/Submit
    noun
    a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.
    “decentralized cryptocurrencies such as bitcoin now provide an outlet for personal wealth that is beyond restriction and confiscation”

  16. Tron Avatar
    Tron

    In my understanding Barbados is executing now the fourth IMF programme since the hybrid CS-IMF programme from 2013 did not work (ref IMF clause in said int. synd. loan).

    Barbadian finances and economy would be in a better shape if Barbados executed an IMF programme every 5-10 years. The tourist sector is simply too small to nourish a heavily overpopulated island with a population demotivated by high taxes.

    Also: We can talk about pros and cons of this and that DLP or BLP economic policy. Such socialist policies won´t work in any case since the Barbadian public sector is 30 – 40% too big. Barbados will not get back on track until some leader makes a bold decision and releases as many civil servants as possible to the free labour market where they can offer their services, eg as cleaners and shopkeepers.

    In all the public discussions and discussions on BU there was not a single “official” policy which offered any path to substantial economic growth. It is all about keeping as many lazy laggards in the public sector as possible. This failing and failed understanding of finances and economy correlates with a population being conservative and socialist at the same time: socially highly conservative like the Taliban and believing in the big nanny state like a naive child believes in Santa Claus.

    We will see what happens during the next years. I predict that more Caribbean islands will overtake Barbados in terms of GDP and other economic data … unless PM MAM turns into a Stalin, sending home a substantial portion of said group and flushing out the wrong feeling of all-inclusive-entitlements of ordinary Barbadian minds.

  17. T.Inniss Avatar
    T.Inniss

    I don’t understand it .Mia is making poor average bajan pensioners carry the burden of her fulfilling her campaign promise of:

    Increase Pensions

    Pay University Tuition fees

    Pay Akanni and the public servants a wage increase

    Try to avoid getting cuss by NOT laying off the required amount of civil servants

    So the poor pensioners who based on past precedents of previous government knew they could safely rely on Government paper – but now in one fell swoop Mia decimate them so that their interest earnings now move from $8,000.00 every 6 months to $535.00

    What she did not tell bajans and these pensioners that invest their gratuity is, that she intended to:

    Give every one of her elected candidates a Ministry

    Bring back the 80 plus oldsters crowd like Billie,Cheltenham,Cappy,Simmons etc

    Then bring in the snake oil salesman Avinash – the mock Professor with just a first degree

    Bring in M-ass -coll to keep him quiet

    Have a Chinese spy come in to surveil we every move on the internet

    Bring in she women of business like Jessica,Pat parris,the Babb woman, etc

    All this burden has to be carried by the pensioners and the tax payers.Yet not a fella will write a column or talk from the University hill or radio talk show – to tell she Watch Muh Mottley that this ain’t fair to the people, and that You ‘ Watch Muh’ need to cut all the fat like you tell David Estwick at that meeting in St Patrick in 2015.

    Instead they are busy telling suffering bajans every day who have been duped by Mia’s Campaign Lies – LETS HOLD HANDS AND SHOW WE LOVE BARBADOS. LOL.

    iT IS PAST TIME FOR Half of the cabinet and the Hangers on TO GO !!!!

  18. Backooful Jack Avatar
    Backooful Jack

    75 banks have joined JPMorgan’s blockchain payments ‘party’

    https://www.businessinsider.com/75-banks-join-jpmorgan-led-blockchain-payment-project-interbank-information-network-2018-9

    Its happening people. The global banks are now embracing blockchain tech. They have little choice.

  19. TheOGazerts Avatar
    TheOGazerts

    Don’t confuse the two.

    https://www.quora.com/What-is-the-difference-between-bitcoin-and-blockchain

  20. TheOGazerts Avatar
    TheOGazerts

    Don’t confuse the two items.

    https://www.quora.com/What-is-the-difference-between-bitcoin-and-blockchain

  21. Guest Avatar
    Guest

    Correct me if I misunderstood but I believe that the Minister of Elder Affairs has been reported as saying that elderly women are prostituting themselves and the development is disturbing. This issue is such a concern that the GoB has decided to deprive the old girls of their investment income. What is the GoB expecting, given its reported observations.

  22. TheOGazerts Avatar
    TheOGazerts

    @piece
    “mMoney could as well be a “cryptocurrency” given all to the cryptographic-like machinations that are afforded its launch.”

    In chess there is a move where on can take spawn en-passant. mMoney is a distraction with many competitors who are in a more advance stage. What will be the ‘common’ currency if it will be used regionally

    I leave this to guys who are smarter than I am

  23. Guest Avatar
    Guest

    MAM

  24. TheOGazerts Avatar
    TheOGazerts

    Ten years in the wilderness and they arrived without a real game plan; just a desire to add 5 more years to 52 years of folly.

  25. Guest Avatar
    Guest

    MAM

  26. millertheanunnaki Avatar
    millertheanunnaki

    @ T.Inniss September 26, 2018 6:39 PM

    “Have a Chinese spy come in to surveil we every move on the internet…”
    ++++++++++++++++++++++++++++++++++++++++++++++++++++

    So how come MIA Jong Un has NOT yet figured out that you are just a rebooted “Fractured BLP” pretending to be the brother of Crooked Inniss DLP soon to be banged up abroad?

    But we take your main point. Mia is bitch-slapping the ordinary household in the face by imposing the draconian levies on the water bill while the likes of Hal and his lawyer buddies in chambers ‘Gollop’ away with their untaxed millions salted away from the prying eyes of the politically-controlled BRA.

    You are entitled to continue with your politically-orchestrated guerilla warfare against MAM as long as she continues to allow those bold-faced thieving scumbags and tax dodgers- all friends of your deceitful lying party- to get off the hook; unlike your corrupt motor-mouth brother in verbal diarrhea the Don of Bribery now on an extended vacation in the grand ole USA.

    Minister Hinkson, you appear to be an honourable man, most worthy of the highest respect.
    You have been given- by the goddess of karma- a job to do. Don’t be sidetracked by those with a vested interest (even in your own cabal) in keeping the corrupt habits of the ancien régime still much in situ.

  27. Wily Coyote Avatar
    Wily Coyote

    @David

    You seem to be in the KNOW about this DEBT RESTRUCTERING PLAN and it’s various PHASES, where can one find a readable/printable hardcopy. Wily needs to read see a hardcopy for detailed evaluation.

  28. Guest Avatar
    Guest

    MAM

  29. Guest Avatar
    Guest

    MAM

  30. Guest Avatar
    Guest

    MAM

  31. Guest Avatar
    Guest

  32. Piece Uh De Rock Yeah Right Avatar
    Piece Uh De Rock Yeah Right

    Why Willy Coyote you have asked a serious question indeed of the Honourable Blogmaster.

    I wonder if de ole man can speculate on its answer for you IF I CAN BE SO BOLD heheheheheheheh

    Membership of various groups will require one to have certain characteristics.

    Loyalty, dedication, competencies, certain skills and acumen.

    Membership of the Red Council requires much more than this.

    This devotion supersedes your pledge of allegiance to your country Barbados and is much akin to a covenant and pact with the devil.

    Now de ole man does not know which black magic books or movies you have watchd but you would be advised to read “To The Devil A Daughter” by Dennis Wheatley.

    Now please do not infer that one is calling the Leader of the Red Council a necromancer, or any such scurrilous name, but indeed, membership of this coven does have its price like “once you go black you cant go back.”

    many of them have recited this in modern words to their new mistress Wily Coyote

    “…I, the loathed of God . . .Her too, her peace, I must undermine . . .This was the sacrifice I owed to Hell!
    Help, Devil, to shorten my time of torment!
    What must be, must be; hasten it!
    Let her fate hurtle down with mine,
    Let us go together to the pit!…”

    I do hope my accustomed meanderings and drivel have helped answer your question

  33. Enuff Avatar
    Enuff

    Stupsee!🤫

  34. Simple Simon Avatar
    Simple Simon

    @Piece Uh De Rock Yeah Right September 26, 2018 5:34 PM “…he is going to get locked up in the United States of America and no amount of favouritism and back door begging is going to avert that sentence.”

    But why would anybody seek favours or beg?

    I tell my own children, if you do the crime, you will do the time, and when ya get ketch, don’t call my name, because I int know you.

    So I don’t understand your talk about begging and favouritism.

    I don’t feel that anybody is too good to go to jail. Not even my own mother.

    If she wasn’t already dead.

  35. William Skinner Avatar
    William Skinner

    One of the major problems we have is a very real polarization. It means that the call to rally around the government will continue to be rejected by those who oppose the ruling party, in the same manner of those who oppose the former government.
    Even on BU, this rampant polarization is clearly evident. In the broader society, we find media professionals taking pure party lines. Our system of government, when stripped naked is a backward and unproductive melting pot of potent stupidity.
    Anybody who believes that the decadent duopoly will ever put the country before its narrow self interest and that of its cronies, is absolutely delusional.
    The current economic malaise is indicative of how far we have retrogressed in the last five decades. It is now patently obvious that we are going to be in the economic doldrums for an unnecessarily long period of time because we are going to be attempting to tax and beg our way out of a self inflicted and protracted period of economic mismanagement, that stretches back to the mid seventies.
    In most recent times we are slowly coming to grips with the sad reality that Arthur was in real terms only a modest success while Sinckler was a spectacular failure. In other words, the basic problems within the economy will remain essentially the same for the better part of the next twenty years. While those of us with a national consciousness will wish Ms. Mottley well, we are already being exposed to the hard fact that even pensioners , who thought their hard earned nest eggs were safe may now be on a certain path to penury in their golden years. No amount of political wishy washy nonsense about suffering for the common good, will eradicate this painful reality.
    The duopoly’s apologists have brought us to this sorry state and they seem incapable of now getting us out. It seems that the best case scenario is that even if the operation is successful the patient might die.

  36. Hants Avatar
    Hants

    Why are the accomplices to the alleged crime not being charged in Barbados.

    THOSE WHO PAY BRIBES ARE CRIMINALS AS ARE THOSE WHO RECEIVE THEM.

    You already getting your wish to see Donville locked up.

    Why are you all willing to give the FORMER ICBL employees a free pass ? Is it because one of them is a female who is a lighter shade of pale ?

    I gine an get muh headphones an listen to Procul Harum.

  37. Simple Simon Avatar
    Simple Simon

    @Hants September 27, 2018 12:05 AM “Why are you all willing to give the FORMER ICBL employees a free pass ? Is it because one of them is a female who is a lighter shade of pale ?”

    I am not willing to give them a free pass, because I noticed that mu ICBL premiums dropped sharply this year, in spite of Hurricane Maria nearby lat year. I thought it strange and asked a question and got a wishy washy answer. This was BEFORE Donville was arrested. I believe that ICBL was charging me and likely many others too high premiums for many years, and using MY MONEY to pay bribes. I don’t like it.

    I am not into lighter shade of pale people, and especially I am not into lighter shade of pale female people.

  38. WARU Avatar
    WARU

    “Anybody who believes that the decadent duopoly will ever put the country before its narrow self interest and that of its cronies, is absolutely delusional.”

    More the reason to KICK Mia and her gang to the curb come 2023….29-0 sounds about right because WE KNOW…

    …this government has no intention of ending the corruption, locking up their companeros in DLP and the minority thieves for ripping off the treasury AND pension fund,

    … recovering the money belonging to the people’

    fixing the Supreme Court so there is actually a Supreme Court that dispenses timely justice,

    …Fire Judges who take bribes from insurance companies to destroy personal injury cases of injured claimants AND help their fellow lawyers TIEF Estates from the elderly and their beneficiaries…..AND cause cases to backlog in the Supreme Court through unnecessary adjournments for a decade and more.

    .. locking up lawyers who rip of the elderly their Estates, as can be found inside her government…

    and all the other crimes against the people they all feel so comfortable and proud of committing to enrich themselves..

    It’s obvious, apart from attempting to undo some economic damage, that the Mia government’s priorities are suspect…given this Bitt push to force what is quite obviously a self serving scam on the people…not meant to enrich the people but to suck even more from their pockets..

    And even worse… the Mia government’s reluctance to pursue charges against ICBL former executives AND Donville….in their bribery/money laundering scam against Bajans..using a taxpayer funded entity.

    I am not impressed..

  39. Hal Austin Avatar
    Hal Austin

    Hants,

    A core of a democratic society is the rule of law; a society that has a criminal law for some, and a free pass for others is a corrupt society. Barbados is a failed state.

  40. NorthernObserver Avatar
    NorthernObserver

    @WS 11.50pm
    Much truth. Bim maybe an island, yet the polarization you reference is a global pattern. Even in places where the precise policy differences between the main competing political entities is blurry.
    One challenge is so many elected bodies seem to believe they can SPEND their way out of problems. And without any counterbalancing revenue measures. So they spend and spend, run one deficit after another, the cost is initially 5% of revenue, then it’s 10%, then 15%, etc etc. And neither of the duopoly or triopoly can “take away” any of the bestowed benefits, rather they promise more. This is like giving every government a credit card, and when they max out, they get 3 new ones with lesser credit limits, and use them to pay the monthly fees associated with the first one, plus current deficits, then they get 12 to pay for #1 and 2-3-4.

  41. Josh Avatar
    Josh

    William Skinner correct me if it wasn’t you who introduced duopoly as a talking point. It couldn’t be Mia Amor’s glorified yard fowl the gatekeeper. To kill off the duopoly a special talent is mandatory with the charisma and intellect to attract the bases of the duopoly. That personality must own a track record of success at the highest levels. A mastery of multitasking with certifiable results the solutions to bread and butter issues that affect mankind is mandatory.

    The advocacy here is for Rihanna Fenty to be identified as a Prime Minister of Barbados in the next 5 to 10 years. Her deeds and words in the global arena suggests a deep political appetite and an emerging political nous. The vision is for her to lead a party of national unity in five to ten years culling the best and brightest young blood from the Dees and Bees. No room for the Donville’s , Kellman’s, Pain ,Teets surely not wife beater and crooked lawyers.

    She’s already broken bread with heads of state like Macron, her extraordinary stature in world affairs, philanthropy and business speaks volumes for her qualities to shepherd Barbados to unprecedented heights. A new generation of political breed will accompany her. The Motley/Stuart eras will be history. We would have moved on from the duopoly.

  42. William Skinner Avatar
    William Skinner

    @ Josh

    I did not “introduced” the term duopoly to BU. It surfaced on the blog many moons ago.
    Your position on Rihana is quite interesting- perhaps food for thought.
    As for getting rid of the duopoly, all I can say is whenever is not soon enough. I don’t really know of any young new breed of politician in the Bees or Dees.

  43. pieceuhderockyeahright Avatar
    pieceuhderockyeahright

    Ammmmm…

    Gents ammmmm…

    @ William Skinner
    @ Josh

    I was with both of you when you repeated Brother in Arms Bush Tea s observation of how this BLP and DLP exchange is just a rearrangement of the chairs on the deck of the Titanic but ammmm. .

    But gents I do caution you NOT TO ASSIGN COMPETENCIES TO Jack Phillips, the senior wireless operator who typed out the last messages on Guglielmo Marconi’s state of the art Morse code machines ON THE SINKING TITANIC IN 1912

    Let me disavow you of any and all such misconceptions right here and now.

    This is the problem with you gents.

    People can blow smoke up your pooches and jes so, wunna does capitulate.

    Do stay tuned on this popular misconception to be debunked.

    Such is going to be the outcome which, at s time while the country is in the throes of the IMF grip, unfortunately wont do the failed state Barbados any good but “sometimes the tree of democracy needs a little pruning” to improve its health…heheheheh

  44. William Skinner Avatar
    William Skinner

    @ Piece

    Agreed. However, both public discourse and that on BU, to a large extent, is extremely distressing , to say the very least. It is amazing, that we fail to see , that the country is in serious need of thinkers and not tinkers. While we engage in senseless nit picking, the reality is that the IMF , has stated that the intended goals will not be met and or achieved until 2033. This means that a considerable portion about a recovery in “three or four “ years is deliberate propaganda.
    The damning revelation is that we are celebrating fifty two years of self government and we still cannot properly manage or effect: a proper public transportation system, a proper garbage collection system, a proper public market system, a highly functioning emergency room department, a forward looking tourism industry, an education system designed to meet current socio economic targets, a Justice system that is productive etc.
    Now any reasonable person will conclude that if we cannot master such areas after fifty two years of self government how can we go from “broke” to prosperity in thirty six months. It is pure hogwash.
    And when Sir Lloyd asked : How did we get back here ? Somebody should have asked him: When did we leave?
    Sir Lloyd seems to have skillfully convinced himself that he actually took us to prosperity.
    Sometimes , although I am not there yet, I have to honestly say that when Hal says we are a failed state, it is a position that cannot be totally ignored.
    Imagine that begging the IMF for money has now suddenly become a worthwhile national benchmark of excellence. It boggles the mind.

  45. WARU Avatar
    WARU

    “To kill off the duopoly a special talent is mandatory with the charisma and intellect to attract the bases of the duopoly. ”

    One half of the duopoly DLP has already been killed off by the PEOPLE, killing off the other half merely involves the PEOPLE…handing the other half of the duopoly, Mia and her gang a massive 29-0 come next election….and the PEOPLE SHOULD NEVER vote for anyone associated with either DBLP EVER AGAIN……kill off completed,..

    There will be more than enough candidates vying to take their place and the electorate will know whom to avoid, lawyers among many others, should be avoided at ALL COST when selecting a candidate…in the 2023 election.

  46. pieceuhderockyeahright Avatar
    pieceuhderockyeahright

    @ William Skinner

    William, William, William…

    You said and I quote “…Imagine that begging the IMF for money has now suddenly become a worthwhile national benchmark of excellence. It boggles the mind…”

    For that single nugget of wisdom you can expect NEVER TO BE ASKED FOR ANY SUBMISSIONS OR TO CONTRIBUTE TO THE WELL BEING OF BARBADOS

    you have spoken a blasphemy and we invoke jihad upon you.

    You know what is so sad about the reception that statement will get? It is the number of Chairman Mia Mao s adipose suckers who will come here, and see that, and not feel ashamed of touting this IMF beggars mission to be a superlative accomplishment of Mottley.

    But you know what William? That ability to observe requires an ability to think independently and unfortunately that is not a quality that Bajans possess

    You listed 7 things to represent where we are after 52 years.

    And incredulously another 50 years is going to pass and our Mandarin speaking banana will be no further along than we are in 2018

    In the abundance of water THE FOOL IS THIRSTY…

  47. pieceuhderockyeahright Avatar
    pieceuhderockyeahright

    @ the Honourable Blogmaster. Your assistance please with an item here

  48. Bush Tea Avatar
    Bush Tea

    @ William
    Boss…
    The problem is not the duopoly.
    Indeed…
    The duopoly is the RESULT of the problem.

    The real problem is brassbowlery…. people who DO NOT LEARN FROM MISTAKES.
    People who only focus on self …and on materialism – and who jump at ANY scheme that PROMISES to fulfil these needs.

    Such is the idea of a PM Rhianna…. a girl after Bushie’s heart…. but a leader of Froon’s mode
    ….whose FAME has been linked to doing whatever it takes to make money…

    This fetish to run after ‘people with money’ for leadership is the very ROOT of our brassbowlery.
    IT WILL KILL US.

    This is why we jump from B to D to B to D …as the scamps PROMISE us rewards without effort and luxury without sweat.

    The ACTUAL solution is so simple and natural that it boggles the mind how it continues to evade us….
    WE NEED TO YEARN AFTER RIGHTEOUSNESS.
    ..ie, yearn after expecting, .. requiring, ..DEMANDING, and ENFORCING – that the Bajan CULTURE be one of doing that which we ALL know to be RIGHT…..

    So far, we are doing SHIITE… with (both literally and figuratively) appropriate results.

  49. WARU Avatar
    WARU

    So when will the Barbados government go after Duprey AND Leroy Leper for ripping off Clico policyholders..

    “A HIGH COURT judge has ordered former executive chairman of CL Financial Lawrence Duprey to repay British American Insurance Company (BAICO) a US$122 million debt he owed to it.

    Justice Ricky Rahim made the order this morning in the Port of Spain High Court. Duprey was not in court for the decision.

    In October, last year, BAICO’s attorneys Andre Rudder and Bryan McCutcheon filed a claim for the sum of US$122,636,450, plus interest.

    The claim is for the sum of US$122,636,450, plus interest. The application followed a ruling by a Florida judge in July last year, against Duprey to pay more than US$60 million to BAICO in damages in relation to the TT$1.9 billion Green Island project in Osceola County, Florida. The application also noted that Duprey had not filed an appeal of the Florida judgment and the time for doing so has since elapsed.

    The insurance company had taken Duprey and one of its former executives, chairman Brian Branker to court claiming a breach of fiduciary duties on their part by allowing it to pump billions of dollars into the real estate transaction which was executed by BAICO and British American Isle of Venice in January 2008 for the purchase price of US$295 million.

    Duprey and Branker were ordered by Judge Erik P Kimball of the United States Bankruptcy Court in the South District of Florida to each pay BAICO US$61,318,225, a total of US$122,636,450. In November of that year, the US court entered judgment against Duprey for the entire sum.

    Court documents stated that the companies had pursued the land transaction that resulted in a loss allegedly exceeding US$100 million.

    This loss was a primary cause of the insolvency of the companies and their multi-national insolvency proceedings. The Florida Court found that the Motion for Judgment should be granted in part, ruling that Duprey and Branker shall be held liable for damages.”

  50. WARU Avatar
    WARU

    The Mia government better move fast, Duprey will end up bankrupt and in prison in Florida, it’s not like he can run to Trinidad, some smartass might have a bullet there waiting for him..lol

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