Open letter to Central Bank Governor on CL Financial bailout

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Central Bank Governor, Dr Alvin Hilaire

30th January is the anniversary of the infamous 2009 CL Financial bailout, so I collaborated on this open letter to the Central Bank Governor, Dr Alvin Hilaire, to raise some urgent and important questions on the Central Bank’s management of this situation.

Our letter was sent on 31st January 2017 and was signed by David Walker, Disclosure Today and I.

Please read this and spread the word…

Remember that –

Silence is the Enemy of Progress!

Board Games again

SIDEBAR: The EFCL issue

The Board of EFCL was reported to have dismissed its CEO after he failed/refused to comply with their directions in a certain matter. There are allegations reported that the Cabinet attempted to direct the EFCL Board, which raises the perennial issue of the nature and extent of Cabinet authority over State Enterprises.

From both the Companies Act and the recent High Court/Appeal Court rulings in the eTECK matter, it seems clear to me that the Board of Directors have fundamental responsibility for the direction and control of the company. That is the legal position, but it seems that our fundamental political culture and conduct is in real conflict with notions of independent professional responsibility.

The State Enterprise sector is once again the subject of public concern on the good governance issues of accountability and transparency. Where does the power lie?

The two most striking issues emerging recently are the declaration of new accountability targets for State Enterprises and that the ‘EFCL Board fires CEO‘, reportedly in defiance of Cabinet directions.

The Accountability and Transparency Deficit is the first issue and it needs to be put into a timeline to illustrate the reality. Continue reading “Board Games again”

Property Matters – State Housing Facts

hdc-logoThis is a continuation of my examination of the National Housing Policy (2002), its implementation and the associated implications.

Over the last year I engaged with HDC’s management who cooperated with me, much like the previous team. I asked about new homes produced by the National Housing Authority (NHA) and the Housing Development Corporation (HDC) in the period January 1st 2003 to December 31st 2015 to establish a) the output of completed homes; b) numbers of new homes distributed; c) the tenures of those homes and finally, d) compliance with the allocation criteria established by the 2002 policy.

Showing Trinidad and Tobago A New Way HomeThe 2002 policy is “Showing Trinidad and Tobago a New Way HOME” and it seems to have met the sorry fate of the 1992 national land policy, in that those important policies have both vanished from official websites. The headline of that Policy was the target of 100,000 new homes in ten years. That target was over-ambitious, given the bottlenecks in our system of planning and construction, even if, at that time, ‘money was no problem’. Continue reading “Property Matters – State Housing Facts”

AUDIO: Interview on Power 102 FM on Invaders’ Bay Development 15 December 2016

Power 102 FMThis is my interview on the ‘Essential Public Interests at stake in the Invaders’ Bay development‘ Power 102.1FM’s ‘Power Breakfast‘ on Thursday, 15 December 2016 with Rhoda Bharath and Wendell Stephens.

  • Programme Date: 15 December 2016
  • Programme Length: 29:23

AUDIO: “Facing The Issues” interview with Tony Fraser along with Derek Chin on the Invaders’ Bay development.

Power 102 FMThis is my interview with Tony Fraser on Power 102.1FM on Wednesday 7 December 2016 to discuss the Invaders’ Bay development. The MovieTowne principal, Derek Chin, was also in the studio.

  • Programme Date: Wednesday, 7 December 2016
  • Programme Length: 1:37:34

Property Matters – Invaders’ Bay part two

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UDeCOTT artist’s impression of Invaders’ Bay development

There is a rising tide of confusion at Invaders’ Bay, so it is time to bring some understanding to this situation. The previous column delved into the Appeal Court rulings and the State’s application to appeal to the Privy Council. There is a lot more to be derived from those important rulings, but this week I am restating the case as to why this is a large-scale development of major importance.

Dr. Bhoendradatt Tewarie
Dr. Bhoendradatt Tewarie

In March 2012, Dr Bhoendradatt Tewarie, the then Minister of Planning & Sustainable Development, confirmed that the 70-acres of undeveloped land at Invaders’ Bay was worth $1.28Bn. This would be the largest single development in our capital city in living memory, the only questions being ‘On whose terms?‘ and ‘For whose benefit?

In 2012, the PP Cabinet decided to lease two parcels of land at Invaders’ Bay –

  1. Dachin: 10.2 acres for a Commercial/Residential complex, a boutique hotel, a cultural focus area and three (3) main event entertainment areas comprising a Museum, Bowling Alley and Movie Theatres. View video presentation here.
  2. Invader’s Bay Marina Group: Commercial Development on 13 acres for Hotel, Commercial Office Complex, Cruise Ship Complex; Gas Station; Residential Development and Light Industrial Development; a Marina.

Continue reading “Property Matters – Invaders’ Bay part two”

Property Matters – Invaders’ Bay

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On 28 October 2016, the Appeal Court delivered its majority ruling upholding the decision of Justice Frank Seepersad on 14 July 2014 to order publication, under the Freedom of Information Act (FOIA), of the legal opinions on which the Ministry had been relying. The JCC had won its case at both the High Court and the Appeal Court, so I called for immediate publication of the requested information. The JCC made no such call, neither did any of my erstwhile colleagues.

At an Appeal Court hearing on 21 November 2016, the State obtained leave, with the JCC’s consent, to appeal this matter at the Privy Council. Whilst in Opposition, the PNM made repeated complaints against the secretive conduct of the Invaders’ Bay development by the Peoples Partnership. Now in Government, the PNM has elevated secrecy in public affairs to a new prominence.

Since Dr James Armstrong was appointed JCC President in December 2015, that organisation has been silent on the Invaders’ Bay matter. This had previously been of high importance as a major development in our capital city, which was proceeding illegally and improperly. The JCC now seems to have reversed its earlier position of pressing for publication of those vital, suppressed documents. Continue reading “Property Matters – Invaders’ Bay”