Response of CEO, Cap Bank: House Slave Mentality
June 19, 2006
“The truth is, all banks operating in Grenada, the ECCB territory and indeed the world are all governed by laws, and therefore CapBank is no exception.”
“The truth is, all banks operating in Grenada, the ECCB territory and indeed the world are all governed by laws, and therefore CapBank is no exception.”
Over the past weeks, Capital Bank Ltd./South City Plaza has been in the news re the Grand Anse basketball/netball court.
I write to you in my personal and individual capacity – in the exercise of my civic right and responsibility – to express my utter disbelief and absolute horror at the news that CCI, the parent company of CCC (?), has been awarded the contract for a $15 million (it appears that this is $US) Bridges and Roads Improvement Project which is comprised of two contracts…..
“Native Hut Limited, a company incorporated under the Companies Act of Grenada with registered offices at South City Plaza, Grand Anse, Grenada is seeking to raise additional capital of USDl0million (ECD 27 million) for expansion of the South City Plaza Hotel and construction of the South City Square Project by issuing Three Million Shares to private and institutional investors. ……….
Approvals: ………The Bankers for Native Hut Limited are Capital Bank International Grenada and CLICO Investment Bank Limited (Trinidad)…..”
Asked whether forward planning and “looking down the road” as a country would have helped us to address the present situation, the Hon. Minister replied that “the best laid plans are for mice, not men…” If that statement reflects the attitude of the Minister and his colleagues to planning, no wonder the country is in the state it is in – going to hell in a handbasket!!
I have recently come across a reference to the Blue Lagoon Real Estate corp. (referring to what was formerly the Grenada Yacht Services) in a document entitled The Contribution of Yachting to the Development of the Eastern Caribbean: Grenada, Carriacou and Petite Martinique (Draft). This document noted, “This property has recently changed hands, the intention being the construction of a multimillion dollar marina facility.”
Having read the report, I have also come to the depressing conclusion that, when offering one’s self for political office or high public office in Grenada, perhaps one is well served by proven ability and demonstrated capacity in bungling and mismanagement and utter disregard for the acceptable practices and mechanisms of accountability and transparency in matters of financial management.
I write to express my dismay at the cavalier, dismissive and contemptuous manner in which the Minister of Finance and other ministers of the current administration are treating the concerns of many citizens about the astounding level of the national debt incurred by the NNP administration since it assumed office in 1995.
“Claim No. GDAHCY200l/0490: In the Supreme Court of Grenada and the West Indies Associated States High Court of Justice Grenada (Civil) between Capital Bank International (Claimant) and The Eastern Caribbean Central Bank and Sir K. Dwight Venner (Defendants)..”
Grenada, in the Court of Appeal: Civil Appeals Nos. 13 & 14 of 2002 between Capital Bank International (Claimant) and Eastern Caribbean Central Bank and Sir K. Dwight Venner (Respondents)