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Four Seasons Project – Story of Failure

The most recent Auditor General Report – see 2020 Auditor General Report – Time to Fire Senior Public Servants – continues to generate the usual concerns engaged annually by the general public. Although it must be said there is more impatience being exercised this time around if the blogmaster has tested the temperature of debate correctly.…

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  • Avinash Persaud, former Executive Chairman of Paradise Beach Limited and currently a financial consultant to government
  • Prime Minister Mia Mottley, acted as lawyer for the project before being elected to government
  • Late David Thompson recruited Persaud

The most recent Auditor General Report – see 2020 Auditor General Report – Time to Fire Senior Public Servants – continues to generate the usual concerns engaged annually by the general public. Although it must be said there is more impatience being exercised this time around if the blogmaster has tested the temperature of debate correctly. Is it because of the unprecedented mandate given to the Mottley led government in 2018? The promises made during the last general election platform certified by hints of documents secreted in the Red Bag that officials known to have engaged in criminal acts and flouting of government’s financial rules will be held accountable? members of the public rightly (or wrongly) have set high expectation that Mottley will turn the table and tackle malfeasance in the public sector once and for all. Knowing that it takes two hands to clap one can reasonably expect private sector players will be in the frame as well were she to lead Project Corruption Clean Up.

Three years later and it is business as usual on the rock with Minister in the ministry of finance Ryan Straughn still promising that the government is probing malfeasance highlighted by the Auditor General’s recent report.

Two issues caught the attention of the blogmaster yesterday (7 Jun 2021). Minister Straughn admitted the Clearwater Bay Limited (Four Seasons) file has not been digitized and therefore he would have to review said file to be able to respond to a question about the total of the project-to-date lending by government. The other is the alleged $124 million reportedly written off by government.

BU commenter Artax offered the following comment on another blog to explain the $124 million.

Therefore, the people of Barbados have a right to know where the money has gone? And why was this investment valued at $124 million written off.

Verla De Peiza – Leader of the Democratic Labour Party

It’s either Verla De Peiza has conveniently lost her memory or opposing just for the sake of opposing.

Paradise Beach Ltd. secured an 18 month, US$60M (BD$120,000,000) loan from ANSA Merchant Bank, at an interest rate of 6.75%, for the purpose of ‘restarting’ construction of Four Seasons Resort.

The former DLP administration agreed to guarantee the loan in return for a 20% stake in the project.

Paradise Beach Ltd. defaulted on the loan and ‘government,’ as guarantor, had to repay the outstanding amount and interest in the amount of $124,329,766.

Verla was a GOVERNMENT SENATOR when the ARRANGEMENTS were made between the former DLP administration, Paradise Beach Ltd. and ANSA Merchant Bank.

Why is Verla De Peiza saying “the people of Barbados have a right to know where the money has gone,” when, according to Chapter 2, pages 25-26 of the 2016 Auditor General’s report:

This amount ($124,329,766) was subsequently brought to book in the accounts of the Treasury as an account receivable. There has been no movement on this receivable account for the past four (4) years.” [2.49]

There is NO information available on whether there might be a need to write down this receivable or WHEN or HOW THIS AMOUNT will be REPAID. [2.49]

2020 Auditor General Report

Did the former administration use tax payers’ money to guarantee a loan for Paradise Beach Ltd., without negotiating the necessary arrangements to recover the funds, if the company reneged on its commitment to repay?

From whom or what company would the former or current administration recover the outstanding debt, especially if Paradise Beach Ltd. is defunct?

How can one deem $124,329,766 to be ‘missing,’ when the amount has remained on the ‘books’ and uncollected for ‘several years’………. and ‘yuh doan know who to collect it from?’

259 responses to “Four Seasons Project – Story of Failure”

  1. Miller Avatar
    Miller

    (Quote):
    Thank god for Ms Mottley and her team.THERE IS ABSOLOUTELY NO COMPARISION BETWEEN THE LAST GOVERNMENT AND THIS ONE NONE.
    (Unquote).
    ++++++++++++++++++++++++++++++++++++++++++

    Never be so dogmatic when it comes to parading in the fowl pen!

    Does that statement also exclude the ‘critical’ role Mark Mal(m)oney has been playing under both Administrations?

    Now tell the BU readers what is the difference between the DLP Mal(m)oney and the BLP adopted version except the size of the ‘quo Vadis’ Hyatt erection which has now been put back into a box of flaccid ‘dickies’ hiding a false front of another scam.

  2. Enuff Avatar
    Enuff

    “How can such a massive concrete erection have a positive impact on the natural environment or bring net socio-economic benefits to the local urban community?”

    The more Milluh speaks, the more he exposes his ignorance. I implore him to do some reading about embedding circular economy, greening and whole life-cycle carbon principles in building design for example. Then follow up on how heating/cooling, energy, water efficiency, flood risk management and surface water management are also addressed to deliver resilient, sustainable buildings. As for the net socio-economic benefits, I am not even going to start. Just google planning obligations/gains. Verbosity and idiocy are not mutually exclusive.🤣🤣

  3. Miller Avatar
    Miller

    @ Enuff June 18, 2021 7:24 PM

    It’s truly amazing how a jackass can so quickly inveigle his way through a maze of verbosity to land so perfectly on the g-spot of the tripe containing the naked truth.

    We were just waiting for you to raise your two-faced head above the parapet to chop it off.

    So where is the 15 storey concrete erection to display those grandiose sounding eco-tourism type principles?

    Where on Bay Street can anyone see the ‘green’ shoots of such a project?

    Even in the scarring of the built-environment through the demolition of the Queen’s appointed NIS building the Fairchild Street market has risen, like a phoenix, to the occasion although conceived under the previous administration.

    Based on what was promised since 2014 even Priapus in the shape of the Maloney garden gnome would have lost his Midas touch before your eco-tourism hotel project gets off the ground.

    What is your now compromised ‘red’ administration doing to make that promised 15 storey erection an eco-tourism reality in the heart of a World Heritage Site?

    Here is what the previous administration promised to the Bajan electorate to keep them satisfied since 2014:
    “….the world renowned brand of the Hyatt Hotel is expected to be constructed at a cost of approximately US$70.0 million starting in August this year….”

    PS: Mr. Enuff, the red king of the fowl pen, sorry for ‘speaking’ over your head.

  4. Artax Avatar
    Artax

    @ Enuff

    It seems it’s ‘different strokes for different folks’ or ‘who the dog likes, he licks and who he dislikes, he bites.’

    Whenever I chose to respond to Coxy’s political diatribe, I’m called a ‘cyber bully’ and ‘cyber stalker’ who is need of psychiatric help. Even the ‘2×3 buffoon’ ‘said’ I was “dishonest and more petty than those I cyber stalked,” but, ‘that’s a different story’ because he ended up with ‘egg on his face.’

    Miller trolls you all over BU and RESPONDS to every contribution you post……. and, the crowd remains SILENT.

    The ‘brilliant comrade’ used every opportunity he created or afforded him to attack me. No problem. But, for me to reciprocate means I have a vendetta.

    Barbados Underground at its best.

  5. BAJE Avatar
    BAJE

    Whenever I chose to respond to Coxy’s political diatribe, I’m called a ‘cyber bully’ and ‘cyber stalker’ who is need of psychiatric help. Even the ‘2×3 buffoon’ ‘said’ I was “dishonest and more petty than those I cyber stalked,” but, ‘that’s a different story’ because he ended up with ‘egg on his face.’

    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

    THE DEACON’S BLOCK BOY CONTINUES TO WALLOW IN SELF PITY LOOKING FOR COMFORT.

    GROW UP AND GET A PAIR OF BALLS AND STOP STALKING PEOPLE.

  6. Artax Avatar
    Artax

    THE DEACON’S BLOCK BOY CONTINUES TO WALLOW IN SELF PITY LOOKING FOR COMFORT.

    GROW UP AND GET A PAIR OF BALLS AND STOP STALKING PEOPLE.
    +++++++++++++++++++++++++++++

    And, this comes from the ‘2×3 BUFFOON’……… the same ‘2×3 BUFFOON’ who BRAGGED about KNOWINGLY PURCHASING an ILLEGAL ITEM from a police officer and GIVING it to his lawyer?

    If he “GROWN UP and HAD A PAIR OF BALLS” he would TOLD the policeman, “NO…… wuh you selling, I en buying,” and reported the matter to the Police Complaints Authority.

    But, the LITTLE ‘SISSY’ she IS…….. SHE BOUGHT IT….. out of FEAR……. and GAVE it to HER lawyer.

    But, here’s the difference “the Deacon’s block boys” aren’t ‘SISSIES,’………. they BEHAVE like MEN……. not WIMPS.

  7. Enuff Avatar
    Enuff

    Milluh
    Stop it, stop it! You don’t know what you are talking about! Everytime I show up your ignorance, your responses only serve to accelerate your self-induced burial. You are confused, uninformed and arrogant to boot. And I love to wind you up.🤣🤣🤣

  8. Enuff Avatar
    Enuff

    Artax
    Don’t be disheartened. I am not at all bothered by Milluh’s “stalking”, he is determined to discredit me. As for William Skinner, the less said the better. You note how they repeatedly label me a liar but consort with Abigail de Salemite? But I am.just waiting on the right time. Let them gather.

  9. William Skinner Avatar
    William Skinner

    @ Enuff
    I don’t recall calling you a liar , I said you were in accurate in saying that I “scoffed” at PLT’s Welcome Stamp and then embraced it Your twin brother @Lorenzo is apparently, like others, believe I should be monitoring what @ac writes. I am not the police of BU. I write for me only. Like I have had to remind somebody, parading on BU as the final word on everything, nobody prescribes or proscribes what I write.
    If you were to read with both your eyes, you would see that less than ten minutes ago I responded to @ac. In other words, I don’t seek “blog friends” They usually end up violently cussing one another anyway.
    I am appalled that some people believe they have some power of dominion on BU by asking people to be banned and actually having the effrontery to tell others whom they should and should not support. I have been called ; RH, JA, Liar, hypocrite, anti-Barbadian, undercover Dem etc. I just laugh it off or occasionally come, with what other thin skinned people, who can give but certainly cannot take, “snide remarks”.
    I know for a fact that one regular contributor, who exposed their identity to a person known to me, went about saying that I get on the blog and put down Barbados. They were told that they really don’t know Skinner. He or she stopped that nonsense and has apparently moved me out of the ” hate Barbados group”..
    So you see, if you have something keeping for me , you have joined at least a few thousand. My brother all I have keeping for you is the best of wishes and continued good fortune with your obviously high flying career. The irony here is that this morning, I wrote on BU that I would have personally welcomed you into the NDP. Oh well….no love lost.
    We are all in this together. Malice is not a part of my make up.
    A very good weekend to you and yours, Comrade.

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