{"id":220645,"date":"2025-01-02T10:48:22","date_gmt":"2025-01-02T14:48:22","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=220645"},"modified":"2025-01-02T10:48:23","modified_gmt":"2025-01-02T14:48:23","slug":"government-of-antigua-and-barbuda-issues-first-payment-on-liat-employees-compassionate-payment-bond","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/government-of-antigua-and-barbuda-issues-first-payment-on-liat-employees-compassionate-payment-bond\/","title":{"rendered":"Government of Antigua and Barbuda Issues First Payment on LIAT Employees Compassionate Payment Bond"},"content":{"rendered":"
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Government of Antigua and Barbuda<\/strong> Issues First Payment on LIAT Employees Compassionate Payment Bond<\/p>

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St. John\u2019s, Antigua<\/strong> \u2013 January 2, 2025 \u2013 The Government of Antigua and Barbuda today that the first installment of the LIAT Employees Compassionate Payment Bond has been transferred to BDO Eastern Caribbean for distribution to the eligible former LIAT employees. This allows former LIAT workers who were stationed in Antigua to begin receiving payments toward their severance.<\/p>\n\n\n\n

The Compassionate Payment Bond, issued by the Government, is a 10-year bond valued at $16.72 million with an annual interest rate of 2%. This bond addresses Antigua and Barbuda\u2019s 32% share of the severance owed to 405 former LIAT (1974) Ltd. employees, reflecting the nation\u2019s ownership share in the regional airline.<\/p>

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This bond further demonstrates the Government\u2019s commitment to the former LIAT employees and ensures a measure of relief for those affected by the airline\u2019s closure.<\/p>

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Former LIAT 1974 Ltd. employees are advised to contact BDO Eastern Caribbean, the appointed escrow agent, to receive their payment. BDO is responsible for managing and distributing the bond payments to ensure a smooth and equitable process for all eligible recipients.<\/p>\n\n\n\n

Prime Minister Gaston Browne late last year during his Budget Presentation in Parliament on 5th December, made the announcement of the Compassionate Payment Bond noting that his \u201cgovernment\u2019s intervention in addressing the concerns of the former LIAT workers will provide much-needed relief and demonstrates government\u2019s dedication to fairness and justice, representing meaningful action on behalf of the affected workers.\u201d <\/p>

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

Government of Antigua and Barbuda Issues First Payment on LIAT Employees Compassionate Payment Bond St. John\u2019s, Antigua \u2013 January 2, 2025 \u2013 The Government of Antigua and Barbuda today that the first installment of the LIAT Employees Compassionate Payment Bond has been transferred to BDO Eastern Caribbean for distribution to the eligible former LIAT employees. 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