{"id":116024,"date":"2020-08-28T08:18:48","date_gmt":"2020-08-28T12:18:48","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=116024"},"modified":"2020-10-01T07:08:55","modified_gmt":"2020-10-01T11:08:55","slug":"govt-of-st-vincent-to-write-off-over-14-million-owed-by-liat","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/govt-of-st-vincent-to-write-off-over-14-million-owed-by-liat\/","title":{"rendered":"Gov\u2019t of St. Vincent to write off over $14 million owed by LIAT"},"content":{"rendered":"
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The Government of St Vincent and the Grenadines (SVG) will write off over $14 million that it is owed by LIAT 1974 Ltd in Administration.<\/p>\n

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Speaking on NBC Radio on Wednesday, Prime Minister Dr Ralph Gonsalves said he received a letter on August 25 from the Administrator of the grounded regional airline, asking that its debts be waived.<\/p>

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He said the total debt the carrier owes SVG is just over $14.5 million, of which $12 million is owed to the Argyle International Airport.<\/p>

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\u201cI have no problem in writing off the debt that LIAT owes to us,\u201d The Prime Minister said.<\/p>\n

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\u201cThe effect of the write off of the debt would significantly improve the realizable value which could be derived from the assets of the company and will go a long way towards enabling the company\u2019s return to flying operations,\u201d Gonsalves read from the Administrator\u2019s letter.<\/p>

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\u201cI will do anything to help my friend Gaston [Browne, prime minister of Antigua] in getting LIAT up\u2026,\u201d the Vincentian prime minister said.<\/p>\n

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While Gonsalves and Mia Mottley, prime minister of Barbados have said their countries have no interest in going forward with further operations of the airline, Browne, the third of the three major shareholders is putting together a plan which he hopes will see LIAT take to the skies again before too long.<\/p>

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LIAT\u2019s most recent staff complement, prior to the cessation of flying operations, was 667 persons, spread across all territories to which the carrier flew, Gonsalves read.<\/p>

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\u201cThe write off of the debt as stated above will enhance the employees\u2019 prospects and settling the indebtedness of these employees,\u201d the Administrator said.<\/p>\n

\u201cSo by writing off, I am hoping that I can put LIAT in a position where they can say something to the workers. And I will meet the LIAT workers now that I have a letter from the Administrator,\u201d Gonsalves said.<\/p>\n

Two weeks ago, members of the local LIAT workers union said their patience and understanding were waning thin after nine weeks of being unable to secure a meeting with Gonsalves to discuss matters relating to the regional carrier\u2019s liquidation.<\/p>\n

\u201cRemember I said I had nothing new to tell them,\u201d the Prime Minister said.<\/p>\n

\u201cThis does not give an answer to their issue, but I have something new to tell them.\u201d<\/p>\n

The LIAT Administrator asked that the Government of SVG respond to the request by September 25, 2020.<\/p>\n

\u201cI had said before they asked me, that I would do it. But now that they ask formally, I will just have to go to Cabinet, as I do not run a one man Government,\u201d the Prime Minister said.<\/p>\n

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(SEARCHLIGHT) The Government of St Vincent and the Grenadines (SVG) will write off over $14 million that it is owed by LIAT 1974 Ltd in Administration. Speaking on NBC Radio on Wednesday, Prime Minister Dr Ralph Gonsalves said he received a letter on August 25 from the Administrator of the grounded regional airline, asking that […]<\/p>\n","protected":false},"author":3,"featured_media":98192,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-116024","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nGov\u2019t of St. Vincent to write off over $14 million owed by LIAT - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/govt-of-st-vincent-to-write-off-over-14-million-owed-by-liat\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t of St. Vincent to write off over $14 million owed by LIAT\" \/>\n<meta property=\"og:description\" content=\"(SEARCHLIGHT) The Government of St Vincent and the Grenadines (SVG) will write off over $14 million that it is owed by LIAT 1974 Ltd in Administration. 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