{"id":116482,"date":"2020-09-07T12:39:34","date_gmt":"2020-09-07T16:39:34","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=116482"},"modified":"2020-09-07T12:39:34","modified_gmt":"2020-09-07T16:39:34","slug":"no-formal-word-from-svg-about-liat-debt-write-off-no-response-from-barbados","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/no-formal-word-from-svg-about-liat-debt-write-off-no-response-from-barbados\/","title":{"rendered":"No formal word from SVG about LIAT debt write off, no response from Barbados"},"content":{"rendered":"
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Antigua is yet to receive a formal response from St. Vincent and the Grenadines to a request from the LIAT Administrator about a debt write off.<\/p>

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While it has been reported in the media that the Government of St Vincent and the Grenadines (SVG) will write off more than $14 million that it is owed by LIAT 1974 Ltd in Administration, Prime Minister Gaston Browne said no formal communication has been received in that regard.<\/p>\n

At the same time, there has been no word from Barbados regarding the request.<\/p>

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\u201cWe have not heard formally from Prime Minister [Dr. Ralph] Gonsalves as yet but he\u2019s given an undertaking that his government will write off the liability of $14 million of which we\u2019re appreciative of the fact that he\u2019s standing in solidarity with us,\u201d Browne said.<\/p>

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\u201cBecause what we\u2019re trying to do is to get these liabilities written down so that there could be some level of severance paid to the workers.<\/p>\n

\u201cLIAT has more than $300 million in liabilities; and the assets, which are primarily travel assets, may yield about $20 million, so if they go ahead with liquidation the staff will be lucky if they get five per cent of their outstanding severance.\u201d<\/p>

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Prime Minister Browne said he is \u201cpretty sure\u201d that Prime Minister Roosevelt Skerritt of Dominica will be writing off the arrears.<\/p>\n

\u201cWe are now waiting to hear from Prime Minister Mia Mottley and the others within the region to get something definitive from them,\u201d Browne said.<\/p>

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\u201cI don\u2019t think it\u2019s a hard decision to make. It\u2019s not a difficult decision to make because with liquidation they would have gotten nothing anyway so they are no worse off writing it off compared to a situation in which if we have liquidated LIAT.<\/p>

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\u201cSo, I don\u2019t see any reason why anyone would want to delay or to deny the decision. So we expect a positive outcome from the other leaders within the region to include Prime Minister Mia Mottley.\u201d<\/p>\n

Browne said he is identifying Barbados as the single largest shareholder investor in LIAt over the years.<\/p>\n

\u201cIn fact, they too have a number of pilots and so on who are out in the wilderness trying to figure out what\u2019s going down, if they\u2019re going to get any severance,\u201d Prime Minister Browne said.<\/p>\n

\u201cAnd I don\u2019t think the Administrator is in a position to guarantee any form of severance until such time as he would have gotten the write offs from the various member states.\u201d<\/p>\n

\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

Antigua is yet to receive a formal response from St. Vincent and the Grenadines to a request from the LIAT Administrator about a debt write off. While it has been reported in the media that the Government of St Vincent and the Grenadines (SVG) will write off more than $14 million that it is owed […]<\/p>\n","protected":false},"author":3,"featured_media":28524,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-116482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nNo formal word from SVG about LIAT debt write off, no response from Barbados - 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\/no-formal-word-from-svg-about-liat-debt-write-off-no-response-from-barbados\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"No formal word from SVG about LIAT debt write off, no response from Barbados\" \/>\n<meta property=\"og:description\" content=\"Antigua is yet to receive a formal response from St. Vincent and the Grenadines to a request from the LIAT Administrator about a debt write off. 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